South Africa's manufacturing production fell 10.6% from a year ago in July of 2020, following a downwardly revised 15.8% slump in the prior month and less than an expected 12.5% decline. It was the softest downturn in industrial activity since March, amid some relaxation in lockdown measures. Slower decreases were recorded mostly for basic iron and steel, non-ferrous metal products, metal products & machinery (-11.6% vs -19.3% in June); glass and non-metallic mineral products (-9.8% vs -21.8%); wood & wood products (-13.1% vs -21.9%) and food & beverages (-11.4% vs -11.9%). In addition, production rebounded sharply for petroleum, chemical products, rubber and plastic products (4.3% vs -1.4%), of which coke, petroleum products and nuclear fuel (3.8% vs -5.7%). On a seasonally adjusted monthly basis, manufacturing activity rose 7.6%, after an upwardly revised 17.9% plunge in June and beating market consensus of a 2.5% gain.
Industrial Production in South Africa averaged 0.70 percent from 1974 until 2020, reaching an all time high of 18.50 percent in May of 1995 and a record low of -49.10 percent in April of 2020. 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 September of 2020. source: Statistics South Africa
Industrial Production in South Africa is expected to be 2.00 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.