South Africa's manufacturing production decreased 1.1 percent from a year earlier in July 2019 from an upwardly revised 3.6 percent slump in the previous month and compared with market expectations of a 1.8 percent decline. Output fell at a softer pace for basic iron and steel, non-ferrous metal products, metal products & machinery (-4.4 percent vs -5.4 percent in June); electrical machinery (-0.7 percent vs -6.5 percent) and furniture & other manufacturing (-2.5 percent vs -5.7 percent). In addition, production rose faster for food, beverages & tobacco (7 percent vs 2.9 percent) and rebounded sharply for motor vehicles, parts, accessories and other transport equipment (7.6 percent vs -0.6 percent). On a seasonally adjusted monthly basis, industrial production went up 0.4 percent, following an upwardly revised 1.9 percent decline in the previous month but below market consensus of a 0.6 percent gain. Industrial Production in South Africa averaged 0.95 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 1.80 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 1.60 in 12 months time. In the long-term, the South Africa Manufacturing Production is projected to trend around 1.30 percent in 2020, according to our econometric models.