South Africa: Manufacturing contracts less in June
August 11, 2015
In June, manufacturing production fell 0.4% over the same month last year, which was above the 1.6% decrease seen in the previous month. June’s decrease was mainly driven by contracting output in textiles as well as in food and beverages.
On a monthly basis, manufacturing output rose 0.9% in seasonally-adjusted terms, which contrasted the 0.6% drop tallied in May and marked a three-month high. Annual average growth in industrial production inched down from a 0.2% drop in May to a 0.3% decrease in June.
Author: Dirina Mançellari, Senior Economist