South Africa: Manufacturing growth increases in May
July 12, 2016
In May, manufacturing production increased 4.0% over the same month last year, which was above the 3.1% rise seen in the previous month and marked the fastest increase in ten months. May’s increase was mainly driven by increasing output in the petroleum, chemical products, rubber and plastic products category.
On a monthly basis, manufacturing output expanded 1.6% in seasonally-adjusted terms, which was above the 0.4% increase observed in April. Moreover, annual average growth in industrial production increased from 0.2% in April to 0.7% in May, its highest level since August 2015.
Author: Christopher Mc Innes, Economist