South Africa Industry May 2018

South Africa

South Africa: Manufacturing output accelerates in May

July 13, 2018

A preliminary estimate showed that manufacturing output continued to rebound in May. According to Statistics South Africa, year-on-year manufacturing output grew 2.3%, contrasting April’s downwardly revised 1.0% expansion (previously reported: +1.1% year-on-year). May’s print reflected strong contributions from the food-processing, automotive and petrochemical industries—blunting immediate fears of an industry-led technical recession through the first half of the year.

In month-on-month terms, manufacturing output rose by a seasonally-adjusted 1.5%, reversing April’s 0.5% fall. Meanwhile, the annual average variation in manufacturing output ticked up to 0.5% from 0.3%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to rise 1.0% in 2018, which is up 0.1 percentage points from last month’s estimate. For 2019, the panel expects manufacturing output to expand 1.3%.


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South Africa Industry Chart

South Africa Manufacturing May 2018

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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