South Africa Industrial production March 2022

South Africa

South Africa: Manufacturing activity returns to growth in March

May 12, 2022

Manufacturing output rose 0.6% in month-on-month seasonally-adjusted terms in March, which contrasted February's 1.5% decrease. March's rebound came on the back of upturns in production of petroleum, chemical products, rubber and plastic products, as well as in food and beverages.

On an annual basis, manufacturing production fell 0.8% in March (February: +0.7% yoy). Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 6.9%, down from February's 7.5%.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 3.4 in 2022, which is unchanged from last month’s estimate. For 2023, the panel sees manufacturing output growing 2.8%.


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South Africa Manufacturing March 2022

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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