South Africa Industrial production September 2020

South Africa

South Africa: Decline in manufacturing activity softens in September

November 10, 2020

Manufacturing output slid 2.6% in year-on-year terms in September, which was above August's 11.1% decrease and marked the best result since February.

September's softer drop was largely driven by less pronounced contractions in the production of petroleum, chemical products, rubber and plastic products, as well as in the manufacture of basic iron and steel, non-ferrous metal products, metal products and machinery output.

On a seasonally-adjusted monthly basis, manufacturing output rose at a softer pace of 3.2% in September (August: +3.3% mom), the worst result since April. Meanwhile, the trend was unchanged in September, with annual average variation of manufacturing output coming in at August’s 11.5%.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 3.9% in 2021, which is down 1.9 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.2%.


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South Africa Industrial production Chart

South Africa Manufacturing September 20 20

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

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