South Africa Industrial production September 2021

South Africa

South Africa: Manufacturing production growth slows in September

November 11, 2021

Manufacturing production increased 1.3% year-on-year in September (August: +1.9% yoy). The result was largely due to weaker food and beverages output. In addition, basic iron and steel, non-ferrous metal products, metal products and machinery output lost pace. Lastly, motor vehicles, parts and accessories, and other transport equipment lost pace, while wood and wood products, paper, publishing and printing gained momentum.

On a monthly basis, manufacturing production increased 3.8% in seasonally-adjusted terms in September, which was notably below August’s 7.1% expansion. Meanwhile, annual average manufacturing output growth rose to 6.3% in September (August: +5.8%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 2.0% in 2022, which is unchanged from last month’s estimate. For 2023, the panel sees manufacturing output growing 1.8%.


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South Africa Industrial production Chart

South Africa Manufacturing September 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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