South Africa: Manufacturing output rebounds mildly in April
A preliminary estimate showed that manufacturing output rose on an annual basis in April, rebounding from the weakest reading in half a year a month earlier. According to Statistics South Africa, year-on-year manufacturing output grew 1.1%, contrasting March’s downwardly revised 1.6% contraction (previously reported: -1.3% year-on-year). April’s print reflected positive contributions from the petrochemical industries, as well as the food-processing sector. Lumber- and publishing-related industries, as well radio and television equipment manufacturing, contributed negatively to the reading.
In month-on-month terms, manufacturing output fell by a seasonally-adjusted 0.6%, reversing March’s 0.6% rise. Meanwhile, the annual average variation in manufacturing output ticked up to 0.3% from minus 0.1%.
In April, the index of manufacturing production was reweighted using national accounts value-added data through 2016. Changes to manufacturing weights were small.