South Africa Industrial production November 2020

South Africa

South Africa: Manufacturing activity drops again in November

January 12, 2021

Manufacturing output slid 3.5% in year-on-year terms in November, which was a somewhat sharper drop than October’s 3.4% decrease. November's figure was partly driven by a deterioration in food and beverages output. In addition, petroleum, chemical products, rubber and plastic products production also fell heavily.

On a seasonally-adjusted monthly basis, manufacturing output fell 1.3% in November (October: +3.2% mom), the worst result since April. Meanwhile, annual average variation of manufacturing production came in at 11.5% in November, matching October's print.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 5.7% in 2021, which is 0.8 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.7%.


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South Africa Industrial production Chart

South Africa Manufacturing November 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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