South Africa: Manufacturing grinds to a halt in September
November 9, 2018
A preliminary estimate showed that the manufacturing sector tapped the brakes in September. According to Statistics South Africa, manufacturing output grew 0.1% over the same month last year, down sharply from August’s revised 1.5% rise (previously reported: +1.3% year-on-year). September’s print reflected contractions in the textile and petrochemical industries, as well as slower growth in the food and beverage industries. For their part, the automotive industries retreated considerably.
In month-on-month terms, manufacturing output fell a seasonally-adjusted 1.0%, down significantly from August’s 0.2% increase. Meanwhile, annual average growth in manufacturing output ticked up from 1.1% in August to 1.2%.