South Africa: Manufacturing in November contracts again
January 19, 2016
In November, manufacturing production dropped 1.0% over the same month of the previous year, which followed the 2.2% decrease seen in the previous month. November’s decrease was mainly driven by contracting output in textiles, clothing, leather and footwear.
On a monthly basis, manufacturing output fell 1.2% in seasonally-adjusted terms, which was up from the 1.8% drop observed in October. Moreover, annual average growth in industrial production increased from a flat reading in October to a 0.1% increase in November. October’s figure had marked a four-month low.
Author: Dirina Mançellari, Senior Economist