South Africa

South Africa Industrial production February 2022

South Africa: Manufacturing production growth wanes in February

Manufacturing output rose 0.2% in year-on-year terms in February, which was a deterioration from January’s 2.0% increase. The figure was largely due to softer food and beverages production growth, while motor vehicles, parts and accessories, and other transport equipment declined at a sharper rate. Lastly, wood and wood products, paper, publishing and printing dropped to a contraction in February.

On a monthly basis, manufacturing output dropped 1.1% in seasonally-adjusted terms in February, contrasting January’s 2.0% expansion. Still, annual average manufacturing output growth rose to 7.4% in February (January: +7.1%), signaling an improving trend in the manufacturing sector.

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