South Africa: Manufacturing activity returns to growth in March
Manufacturing output rose 0.6% in month-on-month seasonally-adjusted terms in March, which contrasted February’s 1.5% decrease. March’s rebound came on the back of upturns in production of petroleum, chemical products, rubber and plastic products, as well as in food and beverages.
On an annual basis, manufacturing production fell 0.8% in March (February: +0.7% yoy). Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 6.9%, down from February’s 7.5%.