FX.co ★ South Africa’s Manufacturing Output Rebounds Into Growth in March

South Africa’s manufacturing sector returned to growth in March 2026, with production rising 0.8% month-over-month, according to data updated on 12 May 2026. This follows a decline of 1.8% in February 2026, marking a notable turnaround in short-term industrial momentum.

On a month-over-month basis, the latest figure shows that manufacturing output not only halted its previous contraction but moved into positive territory. In comparison, February’s reading reflected a 1.8% drop versus January, underscoring the improved conditions captured in the March data.

The shift from a negative to a positive growth rate suggests a stabilisation in industrial activity after earlier weakness, although the sustainability of this rebound will depend on how production trends evolve in the coming months. Investors and policymakers will be watching subsequent releases closely to gauge whether March’s improvement signals a broader recovery in South Africa’s manufacturing sector.