South Africa

South Africa Industrial production November 2023

South Africa: Manufacturing production notches quickest growth since June in November

Manufacturing output grew 0.8% month-on-month in seasonally adjusted terms in November (October: -0.1% mom). November’s result marked the best reading since June. Looking at the details of the release, November’s acceleration largely reflected a steep rebound in food and beverages production.

On an annual basis, manufacturing output increased 1.9% in November, which was below October’s 2.3% expansion. Still, the trend improved, with the annual average variation of manufacturing production flatlining, up from October’s minus 0.4% reading.

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