South Africa Industry February 2017

South Africa

South Africa: February's improvement proves short-lived: manufacturing output declines in February

April 11, 2017

South Africa’s manufacturing production weakened again February, decreasing 3.6% year-on-year. The result undershot the revised 0.4% increase seen in January (previously reported: +0.8% year-on-year) and reflected a broad-based deterioration particularly in manufacturing of textiles and petroleum products. Due to the fall, annual average growth in manufacturing production fell from 1.0% in January to 0.5% in February.

Sequential data corroborate the deterioration suggested by the annual data. Manufacturing production declined a seasonally-adjusted 0.4% from the previous month in February, which followed the 0.6% decrease observed in January.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.0% in 2017, which is up 0.1 percentage points from last month’s estimate. For 2018, the panel expects manufacturing to expand 1.6%.

Author:, Senior Economist

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South Africa Industry Chart

SouthAfrica Industry February 2017

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Statistics South Africa (Stat SA) and FocusEconomics calculations.

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