South Africa

South Africa Industrial production December 2023

South Africa: Manufacturing production falls at sharpest pace since October 2022 in December

Manufacturing output dropped 1.7% month on month in seasonally adjusted terms in December (November: +1.2% mom). December’s outturn marked the worst reading since October 2022. Looking at the details of the release, wood and wood products, paper, publishing and printing activity declined in December, and food and beverages output lost steam.

On an annual basis, manufacturing output rose at a more moderate pace of 0.7% in December (November: +2.5% yoy) Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at plus 0.4%, up from November’s flat reading.

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