FX.co ★ South Africa Factory Activity Shrinks the Most in a Year

South Africa’s manufacturing output fell 2.9% year-on-year in April 2026, the sharpest contraction in twelve months, following a revised 1.5% increase in March. The decline was driven mainly by weaker production in basic iron and steel, non-ferrous metal products, metal products and machinery (-6%); wood and wood products, paper, publishing and printing (-10%); and motor vehicles, parts and accessories, and other transport equipment (-11%).

On a seasonally adjusted month-on-month basis, manufacturing output dropped 2.7% in April, reversing an upwardly revised 1.2% gain in the previous month. Over the three months to April 2026, manufacturing production was down 1.3% compared with the preceding three-month period.