South Africa: Manufacturing contracts in October
December 8, 2016
In October, manufacturing production in South Africa dropped 2.7% over the same month of the previous year, which contrasted the weak 0.2% increase recorded in September and marked the lowest reading since July 2014. According to the Statistical Office, October’s reading came on the back of contracting output for food and beverages.
On a monthly basis, manufacturing output decreased 1.9% in seasonally-adjusted terms in October, which contrasted the 1.3% increase observed in the previous month. The trend pointed downwards as annual average growth in industrial production edged down from 0.8% in September to 0.7% in October.
Author: Dirina Mançellari, Senior Economist