South Africa Industry February 2019

South Africa

South Africa: Manufacturing gains narrow in February

April 11, 2019

A preliminary estimate revealed little improvement for the manufacturing sector in February. According to Statistics South Africa, manufacturing output rose by a meager 0.6% year-on-year, decelerating from January’s 0.9% rise (previously reported: +0.3% year-on-year). All told, output gains in the food and beverages; and petroleum and chemicals industries were offset by output losses in the remaining industries. Notably, however, motor vehicle industries’ output growth ticked up.

In month-on-month terms, manufacturing output fell 1.8% in seasonally-adjusted terms (January: -1.6% month-on-month s.a.). Meanwhile, annual average growth in manufacturing output was stable from a month earlier at 1.0%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to increase 1.6% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects manufacturing output to increase 2.1%.

Author:, Economist

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