South Africa: Manufacturing improves in August
October 12, 2016
In August, manufacturing production increased 2.2% from the same month last year, which contrasted the 0.3% decrease observed in the previous month. July’s figure had marked the lowest reading in over a year. According to the Statistical Office, August’s increase was driven by expanding output across many categories, including food and beverages, wood and wood products as well as iron and steel, metal products and machinery.
On a monthly basis, manufacturing output fell 1.0% in seasonally-adjusted terms in August, which was above the 1.9% decrease observed in July. The trend pointed upwards as annual average growth in industrial production edged up from 0.7% in July to 0.9% in August.
Author: Dirina Mançellari, Senior Economist