South Africa Industry August 2019

South Africa

South Africa: Manufacturing production contracts at sharper rate in August

October 10, 2019

Conditions in the manufacturing sector deteriorated in August. In annual terms, production fell 1.8% in the month, following a revised 0.7% month-on-month drop in July (previously reported: -1.1% year-on-year). A marked contraction in the output of basic iron and steel, non-ferrous metal products, metal products and machinery led the decline, which more than offset a rise in the production of food and beverages.

Meanwhile, annual average growth in manufacturing output slid to 0.5% in August from 0.7% in July.

On a month-on-month basis, manufacturing output climbed 1.3% in seasonally-adjusted terms in August, following a revised 0.8% expansion in the previous month (previously reported: +0.4% month-on-month).

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 0.9% in 2020, which is down 0.7 percentage points from last month’s estimate. For 2021, the panel expects manufacturing output to expand 1.4%.


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South Africa Industry Chart

South Africa Manufacturing August 2019 0

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

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