The local magnetization in the one-dimensional random-field Ising model is essentially the sum of two effective fields with multifractal probability measure. The probability measure of the local magnetization is thus the convolution of two multifractals. In this paper we prove relations between the multifractal properties of two measures and the multifractal properties of their convolution. The pointwise dimension at the boundary of the support of the convolution is the sum of the pointwise dimensions at the boundary of the support of the convoluted measures and the generalized box dimensions of the convolution are bounded from above by the sum of the generalized box dimensions of the convoluted measures. The generalized box dimensions of the convolution of Cantor sets with weights can be calculated analytically for certain parameter ranges and illustrate effects we also encounter in the case of the measure of the local magnetization. Returning to the study of this measure we apply the general inequalities and present numerical approximations of the D_q-spectrum. For the first time we are able to obtain results on multifractal properties of a physical quantity in the one-dimensional random-field Ising model which in principle could be measured experimentally. The numerically generated probability densities for the local magnetization show impressively the gradual transition from a monomodal to a bimodal distribution for growing random field strength h.