South Africa Industrial production April 2022

South Africa

South Africa: Manufacturing production records largest decrease in six months in April

June 9, 2022

Manufacturing output collapsed 5.4% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom). The reading reflected a broad-based downturn across the major sectors, with petroleum, chemical products, rubber and plastic products, food and beverages and basic iron and steel, non-ferrous metal products, metal products and machinery all contracting in April.

On an annual basis, manufacturing output plummeted 7.8% in April, which was significantly below March’s 0.6% fall. Consequently, the trend pointed down, with the annual average growth of manufacturing production coming in at 1.8%, down from March's 7.0% reading.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 3.1 in 2022, which is down 0.3 percentage points from last month’s estimate. For 2023, the panel sees manufacturing output growing 2.4%.


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South Africa Industrial production Chart

South Africa Manufacturing April 2022 0

Note: Month-on-month changes and annual average growth of manufacturing production index in %.
Source: Statistics South Africa (Stats SA) and FocusEconomics calculations.

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