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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Manufacturing Prod MoM climbed to -0.4% in May 2015
FMPMonthlyReleased July 2015
South Africa Manufacturing Prod MoM climbed to -0.4% in May 2015, released July 2015, up 1.6% from April's -2.0% reading. The reading missed the 0.05% consensus by 0.45%. The print is running well below the 12-month average of -0.02%. Over the past 3 months, Manufacturing Prod MoM averaged -0.4%, vs -0.15% in the prior 3-month window. The reading is in the 39th percentile of the trailing 24-month range.
Latest Release
-0.4
Actual
0.05
Consensus
-2
Previous
Median Absolute Error
±1.7 percentage points
across last 9 releases
Last Call
Jul 2015
Predicted: -0.35
Actual: -0.4
Error: +0.05
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
Manufacturing Prod MoM (South Africa) was reported at -0.4% in July 2015. This missed the market consensus of 0.05% by 0.45%. The reading rose from the previous value of -2%.
WHY IT MATTERS
The trailing three releases averaged -0.4%, down from the prior three at 0.5%.
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). Over the last 9 releases, the Sigmacast model's median absolute error is 1.7%.
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 July 2015.
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Manufacturing Prod MoM - ZA
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About Manufacturing Prod MoM — South Africa
DEFINITION
Manufacturing Prod MoM (Month-over-Month) is a key economic indicator that measures the change in the total output of goods produced by the manufacturing sector in a specific country or region over a one-month period. This indicator provides valuable insights into the health and growth of the manufacturing industry, which is a crucial component of a country's overall economic performance. It is closely monitored by investors, policymakers, and analysts to assess the current state and future prospects of the manufacturing sector. A positive change in Manufacturing Prod MoM indicates an increase in production, while a negative change suggests a decline, making it a vital tool for decision-making in the financial world.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. 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 (May 2015): actual -0.4 %, consensus 0.05 %. Prior reading (Apr 2015): -2 %. Before that (Mar 2015): 1.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.