Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Industrial Production YoY climbed to 7.0% in June 2013
FMPMonthlyReleased June 2013
South Africa Industrial Production YoY climbed to 7.0% in June 2013, up 9.2% from May's -2.2% reading. The print exceeded the 3.5% consensus by 3.5%. Industrial Production YoY has now risen for 3 consecutive months.
Latest Release
7
Actual
3.5
Consensus
-2.2
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production YoY (South Africa) was reported at 7% in June 2013. This beat the market consensus of 3.5% by 3.5%. The reading rose from the previous value of -2.2%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 30).
Auto-generated from current model state · Refreshes on each release · Last update June 2013.
SHARE
Industrial Production YoY - ZA
Loading chart data...
About Industrial Production YoY — South Africa
DEFINITION
Industrial Production YoY (Year-over-Year) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors over a 12-month period. It provides valuable insights into the health and growth of a country's industrial sector, which is a crucial component of its overall economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it can signal potential shifts in the economy and help inform business and investment decisions. A positive YoY growth in industrial production indicates a strong and expanding industrial sector, while a negative growth may suggest a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2013): actual 7 %, consensus 3.5 %. Prior reading (May 2013): -2.2 %. Before that (Apr 2013): -2.9 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.