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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
MNI (London)
SOUTH AFRICA APRIL MFG PRODUCTION SA -5.4% M/M (FCST -2.0%); MAR +0.3%r M/M
SOUTH AFRICA APRIL MFG PRODUCTION NSA -7.8% Y/Y (FCST -3.5%); MAR -0.6%r Y/Y
- The April print saw a substantial slump in South African manufacturing production, contracting at over double the pace of the forecasts. On the month, manufacturing fell by 5.4%, following the modest 0.3% uptick in March, whilst on the year the 7.8% dive accelerated from the 0.6% contraction in March. The year-on-year reading is the fastest fall since October 2021.
- The key downwards driver in April 2022 compared to 2021 was motor vehicles and associated products, which nosedived 28.6% y/y, followed by petroleum down 10.3% y/y and food down 3.7% y/y.
- Negative contributions compared to the month prior were led by wood products down 6.3% m/m, vehicles down 3.3% m/m and metals down 2.1% m/m.
- The severe flooding in the KwaZulu-Natal region in April caused significant damage to infrastructure and was a key driver of the fall in production as certain industries came to a standstill.
Source: Statistics South Africa
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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