South Africa Industrial production April 2021

South Africa

South Africa: Manufacturing activity records best result on record in April

June 10, 2021

Manufacturing output rose 87.9% year-on-year in April (March: +5.2% yoy). The reading marked the best result on record; however, it was flattered by a low base effect. Looking at the details of the release, April's pick up was broad-based, with output growth gaining traction across several sub-sectors. Notably, the production of food and beverages; petroleum, chemical products, rubber and plastic products; basic iron and steel, non-ferrous metal products, metal products and machinery; and, motor vehicles, parts and accessories expanded robustly. Meanwhile, the trend improved sizably, with the annual average variation of manufacturing production coming in at plus 1.1% in April, contrasting March's minus 10.3% reading.

On a seasonally-adjusted monthly basis, manufacturing output fell 1.2% in April (March: +3.7% mom).

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 6.2% in 2021, which is unchanged from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.6%.


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South Africa Manufacturing April 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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