South Africa Industrial production March 2020

South Africa

South Africa: Manufacturing production falls at sharper pace in March

June 11, 2020

Manufacturing production declined 5.4% year-on-year in March (February: -2.3% yoy). The downturn was driven by a sharper contraction in the production of basic iron and steel, non-ferrous metal products, metal products and machinery; petroleum, chemical, rubber and plastic products; and motor vehicles, parts and accessories and other transport equipment.

On a monthly basis, manufacturing output fell at a softer rate of 1.2% in March (February: -2.6% mom). Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 1.9%, worsening from February's minus 1.3%.

FocusEconomics Consensus Forecast panelists project manufacturing output to contract 12.4% in 2020, which is down 4.5 percentage points from last month’s estimate. For 2021, the panel expects manufacturing output to expand 4.1%.

Author:, Economist

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South Africa Industrial production Chart

South Africa Manufacturing March 20 20 0

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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