South Africa: Growth in manufacturing slows in July
September 8, 2016
In July, manufacturing production increased just 0.4% over the same month last year, which was considerably below the revised 4.7% rise seen in the previous month (previously reported: +4.5% year-on-year) and marked the slowest pace of growth in over a year. July’s deceleration was driven by shrinking output across many categories, including food and beverages, clothing and footwear as well as iron and steel, metal products and machinery.
On a monthly basis, manufacturing output fell 1.5% in seasonally-adjusted terms in July, which contrasted the 0.7% increase observed in June. The trend pointed downwards as annual average growth in industrial production decreased from 1.2% in June to 0.8% in July.
Author: Dirina Mançellari, Senior Economist