South Africa Industrial production October 2020

South Africa

South Africa: Manufacturing production drops again in October

December 10, 2020

Manufacturing output dropped 3.4% year-on-year in October (September: -1.9% yoy). Looking at the details of the release, October’s sharper drop largely reflected a slowdown in food and beverages output as well as a contraction in the manufacture of textiles, clothing, leather and footwear. In addition, the manufacture of petroleum, chemical products, rubber and plastic products fell markedly in October.

On a monthly basis, manufacturing production grew 2.6% in seasonally-adjusted terms in October, which was below September’s 2.9% expansion and marking the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 11.5%, down from September's minus 11.3%.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 4.9% in 2021, which is up 1 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.2%.


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South Africa Manufacturing October 20 20

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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