South Africa: Manufacturing activity bounces back in April
Latest reading: Manufacturing output rose 1.9% in month on month seasonally adjusted terms in April, which contrasted March’s 2.5% decrease. The print marked the best reading in a year. Looking at the details of the release, the notable turnaround was largely due to rebounds in petroleum, chemical products, rubber and plastic products; basic iron and steel, non-ferrous metal products, metal products and machinery production; plus wood and wood products, paper, publishing and printing.
On an annual basis, manufacturing output plummeted 6.3% in April, which was notably below March’s 1.2% fall and marking the worst result since March 2024. Accordingly, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 1.7% in April, down from March’s minus 0.9% reading.