South Africa Industry April 2017

South Africa

South Africa: Manufacturing output nosedived in April

May 11, 2017

In April, manufacturing plunged 4.1% compared to the same month of the previous year. The result, coming in below market analysts’ expectations of a softer 1.6% contraction, contrasted March’s modest 0.4% increase and marked the worst result since July 2014. April’s print reflects an almost across-the-board drop in all components of the index with car production and production of petrochemical productions components chiefly to blame for the steep decline.

In a month-on-month basis, manufacturing production expanded a seasonally-adjusted 2.3% in April, contrasting the 0.4% decrease observed in March.

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: Jean-Philippe Pourcelot, Economist

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South Africa Industry Chart

South Africa Industry April 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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