Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Manufacturing Production MoM climbed to 1.1% in May 2026
FMPMonthlyReleased July 2026
South Africa Manufacturing Production MoM climbed to 1.1% in May 2026, released July 2026, up 3.7% from April's -2.6% reading. The reading missed the 1.3% consensus by 0.2%. The print is running well above the 12-month average of -0.21%. Over the past 3 months, Manufacturing Production MoM averaged -0.95%, vs -0.63% in the prior 3-month window. The reading is in the 81st percentile of the trailing 24-month range.
Latest Release
1.1
Actual
1.3
Consensus
-2.6
Previous
Median Absolute Error
±0.86 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 1.18
Actual: 1.1
Error: +0.07
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.46 | COMMODITIES | Moves with | → View |
| S&P 500 | ▼ Inverse | −0.45 | INDEX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Manufacturing Production MoM (South Africa) was reported at 1.1% in July 2026. This missed the market consensus of 1.3% by 0.2%. The reading rose from the previous value of -2.6%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged -0.11%, ranging from -2.7% to 1.5% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged -0.27%, unchanged from the prior three. Volatility over the past year (σ 1.19%) is lower than the prior year (σ 1.44%). In July readings over the past 3 years, Manufacturing Production MoM has averaged -0.03%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with S&P 500, negatively correlated (Bearish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 0.86%.
WHAT TO WATCH NEXT
The next release is scheduled for August 11, 2026. Same-country events in the next 14 days include Unemployment Rate (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
SHARE
Manufacturing Production MoM - ZA
Loading chart data...
About Manufacturing Production MoM — South Africa
DEFINITION
Manufacturing Production 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 given month. This indicator provides valuable insights into the health and performance of the manufacturing industry, which is a crucial component of a country's overall economic growth. A positive change in Manufacturing Production MoM indicates an increase in production and can be seen as a sign of economic expansion, while a negative change may signal a decline in manufacturing activity. This indicator is closely monitored by investors, policymakers, and analysts to make informed decisions and forecasts about the state of the economy.
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 2026): actual 1.1 %, consensus 1.3 %. Prior reading (Apr 2026): -2.7 %. Before that (Mar 2026): 0.8 %.
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 XAU/USD (Bullish XAU, r=0.46) — a useful reference for commodities-focused traders.
Σ
EXPECTED ZONE
SIGMANOMICS MARKET FORECAST ENGINE
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
FOREXCRYPTOSTOCKSCOMMODITIESINDICESAPI
BLSBEAFMPWORLD BANKFRED
1,456+ instruments247 indicators530+ correlationsREST + GQL API
4,151 economic indicators127 countries covered6 data sources
FREDBLSEIAECBBOJFMP
Economic Calendar - ZA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:30 | ZA | Producer Price Index MoM | -0.1 | 2.6 | 1.8 | 0.85 | Low |
| 09:30 | ZA | Producer Price Index YoY | 7.5 | 7.8 | 8.2 | 7.85 | Low |
| 12:00 | ZA | Budget Balance | 80.13 | -14.62 | 57 | 68.56 | Low |