South Africa Industrial production February 2021

South Africa

South Africa: Manufacturing activity declines at softer pace in February

April 8, 2021

Manufacturing output dropped 2.1% compared to the same month of the previous year in February, which was a less pronounced contraction than January's 4.2% decrease. February's smaller drop was partly driven by a weaker contraction in food and beverages output, as well as in the manufacture of petroleum, chemical products, rubber and plastic products.

On a monthly basis, manufacturing output declined 1.2% in seasonally-adjusted terms in February, following January’s flat reading and marking the worst result since April 2020. Meanwhile, annual average variation of manufacturing output was 11.1% in February, mirroring January's print.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 6.1% in 2021, which is up 0.2 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.8%.


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South Africa Industrial production Chart

South Africa Manufacturing February 2021

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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