South Africa: Manufacturing contracts less in February
April 9, 2015
In February, manufacturing production fell 0.5% over the same month last year, which was above the 2.4% decrease observed in January. February’s decrease was driven by contracting output in clothing, petroleum, chemical products, rubber and plastic products.
On a monthly basis, manufacturing output rose 0.7% in seasonally-adjusted terms, which contrasted the 1.9% fall tallied in the previous month. However, annual average growth in industrial production fell from a 0.2% drop in January to a 0.4% decline in February.
Author: Dirina Mançellari, Senior Economist