South Africa: Manufacturing contracts in August
October 8, 2015
In August, manufacturing production dropped 0.2% over the same month last year, which contrasted the 5.3% increase seen in the previous month. August’s decrease was mainly driven by contracting output in textiles, clothing, leather and footwear.
On a monthly basis, manufacturing output rose 0.4% in seasonally-adjusted terms, which followed the 0.1% increase observed in July. Moreover, annual average growth in industrial production improved from a 0.7% increase in July to a 0.9% rise in August, which marked the highest reading since June 2014.
Author: Dirina Mançellari, Senior Economist