Latest reading: Industrial output expanded 8.9% in year-on-year terms in July (June: +7.2% yoy), marking the fastest growth rate since...
Manufacturing Production in South Africa
The economy recorded average manufacturing growth of -0.6% in the decade to 2024. In 2024, manufacturing growth was -0.4%, down from the 0.6% reading of the 2023.
South Africa Manufacturing Chart
Note: This chart displays Manufacturing Production (ann. var. %) for South Africa from 2014 to 2024.
Source: Macrobond.
South Africa Manufacturing Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Manufacturing production (ann. var. %) | -12.3 | 6.2 | -0.3 | 0.6 | -0.4 |
Manufacturing production shrinks in July
Latest reading: Manufacturing production was down 0.5% on a seasonally adjusted month-on-month basis in July, following a 0.4% increase in the prior month. Relative to the previous month's data, readings in July softened for petroleum, chemical products, rubber and plastic products (-3.8% vs +2.8% in June) and food and beverages (-1.3% vs +1.6% in June). In contrast, readings picked up for basic iron and steel, non-ferrous metal products, metal products and machinery (+2.0% vs -2.0% in June) and wood and wood products, paper, publishing and printing (-1.1% vs -2.2% in June). In annual terms, manufacturing output fell 0.7% in July, following a 1.9% increase in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects South African manufacturing projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable manufacturing forecast available for South African manufacturing.
Download one of our sample reports to visualize what a Consensus Forecast is and see our South African manufacturing projections.
Want to get access to the full dataset of South African manufacturing forecasts? Send an email to info@focus-economics.com.
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