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Manufacturing shows uptick amid reduced load shedding

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The latest data released by Statistics South Africa shows that manufacturing production surprised on the upside due to reduced levels of load shedding.

Manufacturing production increased by 5.3-percent in April this year, compared with the same time last year.

The data shows that the largest positive contributions came from petroleum and chemical products, rubber and plastic products, wood and wood products, basic iron and steel, food and beverages, as well as motor vehicles and accessories.

On a month-on-month basis, manufacturing production increased by 5.2-percent in April compared with March 2024.

Independent Economist Elize Kruger explains, “The better-than-expected performance on the once side definitely due to the fact that we had no load shedding during April that played a role as well as a slight low base of calculation. However, the recovery was quite broad based, quite a few of the sectors performed well especially the petroleum chemical products, their subdivision increased by 5.1%, your wood and wood products and paper products increasing by 9.9% and motor vehicle production also up by 6.5% on an annual basis. Giving that we had a dismal first quarter for manufacturing, this is a good number and hopefully it can be sustained, quarter two could look significantly better than quarter one.”

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