South Africa

South Africa Industrial production June 2023

South Africa: Manufacturing activity rebounds in June

Manufacturing production grew 1.2% month on month in seasonally adjusted terms in June (May: -1.3% mom). Looking at the details of the release, June’s improvement was partly due to a notable rebound in petroleum, chemical products, rubber and plastic products output. In addition, food and beverages output also returned to growth in June.

On an annual basis, manufacturing production rose 5.5% in June, more than doubling May’s 2.4% expansion and marking the best result since June 2021. Accordingly, the trend improved, with the annual average variation of manufacturing production coming in at 0.3% in June, contrasting May’s minus 0.5% reading.

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