South Africa: Contraction in manufacturing output eases in July
September 7, 2017
According to a preliminary estimate released by the Statistical Institute, manufacturing production fell 1.4% in July compared to the same month of the previous year, marking a slower pace of contraction than June’s 2.3% drop. A continued fall in the output of petroleum, chemical products, rubber and plastic products spearheaded the decline, offsetting a healthy expansion in basic iron and steel, non-ferrous metal products, metal products and machinery.
In month-on-month terms, manufacturing production swung to a seasonally-adjusted 1.5% expansion in July, as from the 0.3% contraction recorded in June.
Author: Nihad Ahmed, Economist