South Africa: Manufacturing production shrinks in July
Latest reading: Manufacturing production was down 0.5% on a seasonally adjusted month-on-month basis in July, following a 0.4% increase in the prior month.
Relative to the previous month’s data, readings in July softened for petroleum, chemical products, rubber and plastic products (-3.8% vs +2.8% in June) and food and beverages (-1.3% vs +1.6% in June). In contrast, readings picked up for basic iron and steel, non-ferrous metal products, metal products and machinery (+2.0% vs -2.0% in June) and wood and wood products, paper, publishing and printing (-1.1% vs -2.2% in June).
In annual terms, manufacturing output fell 0.7% in July, following a 1.9% increase in the prior month.