South Africa's manufacturing production fell 2.1% from a year ago in February of 2020, following a downwardly revised 1.8% decrease and almost in line with market expectations of a 2.2% slump. It was the ninth consecutive month of declines in industrial activity. Lower output was recorded primarily for basic iron & steel, non-ferrous metal products, metal products & machinery (-4.8% vs -0.8% in January); wood & wood products, paper, publishing and printing (-6.3% vs -6.6%); textiles, clothing, leather & footwear (-9.1% vs -9.9%); glass and non-metallic mineral products (-9.1% vs -1.3%) and motor vehicles (-3% vs -11.7%). The only exceptions were the production of petroleum, chemical products, rubber & plastic products (0.3% vs -0.7%) and food & beverages (2.2% vs 1.4%). On a monthly basis, industrial production shrank 2.3%, after an upwardly revised 3% rise in the previous month.
Industrial Production in South Africa averaged 0.91 percent from 1974 until 2020, reaching an all time high of 18.50 percent in May of 1995 and a record low of -23.20 percent in April of 2009. This page provides - South Africa Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Statistics South Africa
Industrial Production in South Africa is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in South Africa to stand at 1.50 in 12 months time. In the long-term, the South Africa Manufacturing Production is projected to trend around 1.30 percent in 2021, according to our econometric models.