South Africa Industrial production July 2020

South Africa

South Africa: Decline in manufacturing activity softens in July

September 11, 2020

Manufacturing output slid 10.6% year-on-year in July, which was above the 15.8% decline logged in June.

The smaller drop was largely driven by a weaker contraction in food and beverages production, although, it still continued to contract at a steep rate. Moreover, motor vehicles, parts and accessories, and other transport equipment fell at a softer pace compared to the previous month, as did wood and wood products, paper, publishing and printing.

On a monthly basis, manufacturing output rose 7.6% in seasonally-adjusted terms in July, which was notably below June’s 17.9% expansion. Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 10.9%, down from June’s minus 10.1%.

FocusEconomics Consensus Forecast panelists project manufacturing output to contract 13.3% in 2020, which is down 1.1 percentage points from last month’s estimate. For 2021, the panel forecasts manufacturing output to expand 2.3%.

Author:, Economist

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South Africa Industrial production Chart

South Africa Manufacturing July 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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