South Africa: Manufacturing production contracts in November
Manufacturing output plummeted 3.6% in November, following October’s 0.8% drop. The sharper contraction reflected a marked fall in output of paper and paper products, as well as in production of petroleum, chemical products, rubber and plastic products.
Meanwhile, annual average growth in manufacturing output logged minus 0.4% in November, down from October’s flat print and marking the worst print since December 2017.
On a month-on-month basis, manufacturing output contracted 1.5% in seasonally-adjusted terms in November, contrasting a 2.5% increase in the previous month.