South Africa's manufacturing production fell 16.3% from a year earlier in June of 2020, following a 32.4% plunge in May. It was the softest downturn in industrial activity since March when the global pandemic started to hit the economy and strict lockdown measures were implemented to curb its spread. Output shrank less across all categories, in particular, basic iron and steel, non-ferrous metal products, metal products & machinery (-19.6% vs -33.6% in May); food & beverages (-11.4% vs -21%); motor vehicles, parts and accessories & other transport equipment (-38.8% vs -62%) and petroleum, chemical products, rubber & plastic products (-2.2% vs -27.3%). On a seasonally adjusted monthly basis, industrial production grew 16.8%, following a 30.4% jump in the previous month.
Industrial Production in South Africa averaged 0.72 percent from 1974 until 2020, reaching an all time high of 18.50 percent in May of 1995 and a record low of -49.30 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 August 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.