Manufacturing production in South Africa rose 0.6% year-on-year in February 2019, after an upwardly revised 0.9 percent increase in the prior month and slightly above market expectations of a 0.5% gain. Output slowed for food & beverages (3.2% vs 4.4% in January) and it shrank for textiles, clothing & footwear (-5.3% vs -3.2%); wood and wood products, paper & printing (-2.1% vs 0.1%); glass & non-metallic mineral products (-2.6% vs -4.8%); electrical machinery (-7.9% vs -9.3%); radio, television & communication equipment (-6.9% after showing no growth in January) and furnishings (-7.2% vs 2.7%). Conversely, production rose faster for petroleum, chemical products, rubber & plastic products (2.9% vs 1.2%). On a seasonally adjusted monthly basis, industrial production declined 1.8%, following a downwardly revised 1.6% fall in the previous month. Industrial Production in South Africa averaged 0.96 percent from 1974 until 2019, 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.
Industrial Production in South Africa is expected to be 1.50 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 -1.20 in 12 months time. In the long-term, the South Africa Manufacturing Production is projected to trend around 1.00 percent in 2020, according to our econometric models.