South Africa: February's improvement proves short-lived: manufacturing output declines in February
April 11, 2017
South Africa’s manufacturing production weakened again February, decreasing 3.6% year-on-year. The result undershot the revised 0.4% increase seen in January (previously reported: +0.8% year-on-year) and reflected a broad-based deterioration particularly in manufacturing of textiles and petroleum products. Due to the fall, annual average growth in manufacturing production fell from 1.0% in January to 0.5% in February.
Sequential data corroborate the deterioration suggested by the annual data. Manufacturing production declined a seasonally-adjusted 0.4% from the previous month in February, which followed the 0.6% decrease observed in January.
Author: Ricardo Aceves, Senior Economist