South Africa Industry July 2018

South Africa

South Africa: Manufacturing shows strength in July

September 11, 2018

A preliminary estimate showed that the manufacturing sector picked up steam in July. According to Statistics South Africa, manufacturing output grew 2.9% over the same month last year, way above expectations and up significantly from June’s revised 0.6% rise (previously reported: +0.7% year-on-year). July’s print reflected upbeat growth in the food and beverage industries, as well as the lumber-related industries. Meanwhile, the automotive industries also posted strong gains.

In month-on-month terms, manufacturing output rose by a seasonally-adjusted 1.6%, up considerably from June’s 0.2% increase. Meanwhile, annual average growth in manufacturing output climbed to 1.1% from 0.8% in June.

FocusEconomics Consensus Forecast panelists expect manufacturing output to rise 0.8% in 2018, which is unchanged from last month’s estimate. For 2019, the panel expects manufacturing output to expand 1.1%.


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South Africa Industry Chart

South Africa Manufacturing July 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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