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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Manufacturing Prod YoY held to -0.5% in February 2015
FMPMonthlyReleased April 2015
South Africa Manufacturing Prod YoY held to -0.5% in February 2015, released April 2015. The print exceeded the -0.7% consensus by 0.2%. The print is running well below the 12-month average of -0.33%. Over the past 3 months, Manufacturing Prod YoY averaged -0.83%, vs 5.1% in the prior 3-month window. The reading is in the 41st percentile of the trailing 24-month range.
Latest Release
-0.5
Actual
-0.7
Consensus
Previous
Median Absolute Error
±2.77 percentage points
across last 5 releases
Last Call
Apr 2015
Predicted: -1.35
Actual: -0.5
Error: -0.85
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 YoY (South Africa) was reported at 3.8% in May 2015.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.33%, down from the prior three at 0.67%.
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 May 2015.
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Manufacturing Prod YoY - ZA
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About Manufacturing Prod YoY — South Africa
DEFINITION
Manufacturing Prod YoY (Year-over-Year) is a financial indicator that measures the change in the total output of goods produced by the manufacturing sector over a 12-month period. This indicator is used to assess the health and growth of the manufacturing industry, which is a key driver of economic activity. A positive YoY growth indicates an increase in production, while a negative growth may signal a decline in manufacturing output. This information is valuable for investors, policymakers, and businesses in making informed decisions about investments, production strategies, and economic policies.
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 (Mar 2015): actual 3.8 %. Prior reading (Feb 2015): -0.5 %. Before that (Jan 2015): -2.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.