South Africa Industrial production August 2022

South Africa

South Africa: Manufacturing activity grows at fastest pace in seven months in August

October 11, 2022

Manufacturing output expanded 2.1% month on month in seasonally adjusted terms in August (July: -0.1% mom). August's figure marked the best reading since January. Looking at the details of the release, the notable turnaround came on the back of rebounds in petroleum, chemical products, rubber and plastic products, and in food and beverages production.

On an annual basis, manufacturing production rose at a softer pace of 1.4% in August (July: +3.9% yoy). Still, the trend was unchanged, and annual average of manufacturing output was 1.0% in August, mirroring July's figure.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 1.0% in 2022, which is down 0.8 percentage points from last month’s estimate. For 2023, the panel sees manufacturing output growing 1.6%.


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South Africa Manufacturing August 2022

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


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