FX.co ★ South Africa’s Manufacturing Slump Eases in September, Yearly Decline Moderates to 3.5%

South Africa’s manufacturing sector remained in contraction in September 2026, but the pace of decline slowed compared with the previous month. Year-over-year manufacturing production fell 3.5% in September, an improvement from the 4.3% annual drop recorded in August 2026, according to data updated on 10 November 2026.

The figures are based on a year-over-year comparison, meaning September’s output is measured against the same month a year earlier, while the previous reading compares August 2026 to August of the prior year. Although production continues to shrink, the smaller negative reading suggests that the worst of the recent downturn may be easing, with the sector showing tentative signs of stabilization. Investors and policymakers are likely to watch upcoming releases closely for confirmation of a sustained recovery in industrial activity.