South Africa: Manufacturing swings to contraction in January
February 17, 2016
In January, manufacturing production decreased 2.5% over the same month last year, which contrasted the 0.5% increase seen in the previous month. January’s decrease was mainly driven by falling output in the food and beverages category.
On a monthly basis, manufacturing output dropped 1.8% in seasonally-adjusted terms, which contrasted the 1.9% increase observed in December. Moreover, annual average growth in industrial production was stable at December’s flat reading.
Author: Dirina Mançellari, Senior Economist