South Africa: Manufacturing contracts less in May
July 10, 2015
In May, manufacturing production fell 0.4% over the same month last year, which was above the 2.0% decrease seen in the previous month. May’s decrease was mainly driven by contracting output in textiles as well as in food and beverages.
On a monthly basis, manufacturing output fell 1.4% in seasonally-adjusted terms, which followed the 2.1% decrease tallied in April. In addition, annual average growth in industrial production rose from a 0.3% drop in April to a 0.1% decrease in May, which marked a five-month high.
Author: Dirina Mançellari, Senior Economist