South Africa: Manufacturing deteriorates in March
April 12, 2016
In March, manufacturing production decreased 2.0% over the same month last year, which contrasted the 2.2% increase seen in the previous month. March’s decrease was mainly driven by decreasing output in the food and beverages category.
On a monthly basis, manufacturing output decreased 0.3% in seasonally-adjusted terms, which contrasted the 1.6% increase observed in February. Moreover, annual average growth in industrial production swung from plus 0.2% in February to minus 0.3% in March, thus reaching the lowest level since February 2015.
Author: Dirina Mançellari, Senior Economist