South Africa: Contraction of manufacturing production eases in July
September 10, 2019
The contraction of the manufacturing sector eased in July. In annual terms, manufacturing output fell 1.1%, following a revised 3.6% drop in June (previously reported: -3.2% year-on-year). Petroleum, chemical products, rubber and plastic products led the downturn, contracting more sharply than in the previous month, while a marked acceleration in the production of food and beverages stemmed the rate of overall decline.
Meanwhile, annual average growth in manufacturing output slid to 0.7% in July from 1.0% in June.
On a month-on-month basis, manufacturing output rose 0.4% in seasonally-adjusted terms (June: -1.9% month-on-month s.a.).
Author: Nihad Ahmed, Economist