Manufacturing production in South Africa rose 1.6 percent year-on-year in November of 2018, slowing from a downwardly revised 2.8 percent gain in the previous month and below market expectations of a 2.5 percent increase. Output growth eased for food & beverages (5.2 percent vs 6.1 percent in October) and motor vehicles, parts & accessories other transport equipment (6.2 percent vs 13.2 percent). Also, production fell for basic iron & steel, non-ferrous metal products, metal products and machinery (-1.7 percent vs 2.9 percent) and wood & wood products, paper, publishing and printing (-1.4 percent vs 1.9 percent) and dropped further for electrical machinery (-6.3 percent vs -4.3 percent) and radio, television & communication apparatus (-6.2 percent vs -5.6 percent). Meanwhile, production of petroleum, chemical, rubber & plastic was unchanged, after a 2.2 percent decrease in October. On a monthly basis, manufacturing output went up 0.7 percent. Industrial Production in South Africa averaged 0.96 percent from 1974 until 2018, 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 1.30 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 1.00 percent in 2020, according to our econometric models.