Manufacturing production increased by 0.5% y/y in May – Stats SA
After six consecutive months of year-on-year declines, Statistics South Africa (Stats SA) has reported that manufacturing output turned positive in May, increasing by 0.5% year-on-year.
Stats SA industry statistics director Nicolai Claassen notes that five of the ten manufacturing divisions recorded upward growth in May.
The metals and machinery division was the largest positive contributor, expanding by 4.3% year-on-year, and pushing overall growth higher by 0.9 of a percentage point.
Glass and non-metallic mineral products; wood, paper, printing and publishing; textiles and clothing; and communication and professional equipment also registered a positive month.
The weaker of the five divisions in May were electrical machinery; the automotive division; petroleum, chemical, rubber and plastic products; food and beverages; and furniture and other manufacturing not elsewhere classified.
The motor vehicles, parts and accessories and other transport equipment division reported the largest negative contribution of -6.7%, contributing -0.6 of a percentage point.
Further, Stats SA notes that seasonally adjusted manufacturing production increased by 2% in May compared to April. This followed month-on-month changes of 1.7% in April and -2.4% in March.
Claassen notes that this represents the strongest month-on-month rise since July 2024 when production also grew by 2%.
Stats SA also reports that seasonally adjusted manufacturing production decreased by 0.3% for the three months ended May compared with the previous three months. Four of the ten manufacturing divisions reported negative growth rates over this period.
The largest negative contribution was reported for the food and beverages division with -3%, contributing -0.8 of a percentage point.
The largest positive contribution was made by the motor vehicles, parts and accessories and other transport equipment division, at 7.9% and contributing 0.6 of a percentage point.
Meanwhile, seasonally adjusted manufacturing sales increased by 1.8% in May compared to April. This followed month-on-month changes of -0.6% in April and -0.8% in March.
Stats SA also notes that seasonally adjusted manufacturing sales decreased by 0.7% in the three months ended May compared with the previous three months.
The largest negative contribution was made by the basic iron and steel, non-ferrous metal products, metal products and machinery division, at -5.3% and contributing -1.1 percentage points.
The largest positive contribution was reported for the motor vehicles, parts and accessories and other transport equipment division, at 3.9% and contributing 0.6 of a percentage point.
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