South Africa Industrial production June 2021

South Africa

South Africa: Manufacturing activity growth ebbs in June

August 10, 2021

Manufacturing production grew 12.5% year-on-year in June (May: +36.3% yoy). Looking at the details of the release, food and beverages production grew at a softer pace in June, while petroleum, chemical products, rubber and plastic products output swung to contraction. Additionally, motor vehicles, parts and accessories and other transport equipment output growth lost steam, while wood and wood products, paper, publishing and printing production growth moderated. Meanwhile, the trend pointed up, with annual average manufacturing output growth rising to 9.0% in June (May: 6.8%).

On a monthly basis, manufacturing output decreased 0.7% in seasonally-adjusted terms in June, a less pronounced decrease than May’s 2.0% fall.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 8.1% in 2021, which is up 1 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.0%.


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South Africa Industrial production Chart

South Africa Manufacturing June 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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