South Africa Industry August 2016

South Africa

Manufacturing improves in August

In August, manufacturing production increased 2.2% from the same month last year, which contrasted the 0.3% decrease observed in the previous month. July’s figure had marked the lowest reading in over a year. According to the Statistical Office, August’s increase was driven by expanding output across many categories, including food and beverages, wood and wood products as well as iron and steel, metal products and machinery.

On a monthly basis, manufacturing output fell 1.0% in seasonally-adjusted terms in August, which was above the 1.9% decrease observed in July. The trend pointed upwards as annual average growth in industrial production edged up from 0.7% in July to 0.9% in August.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 0.3% in 2016, which is up 0.1 percentage points from last month’s estimate. For 2017, the panel expects manufacturing to expand 1.1%.

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South Africa Industry Chart

SouthAfrica Industry August 2016

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Statistics South Africa (Stat SA) and FocusEconomics calculations.

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