South Africa: Manufacturing production contracts more sharply in September
Manufacturing output fell 2.4% year-on-year in September following a revised 1.5% drop in August (previously reported: -1.8% year-on-year). The sharper downturn reflected a broad-based deterioration led by the production of basic iron and steel, non-ferrous metal products, metal products and machinery, and followed by wood and wood products, paper, publishing and printing. The declines more than offset an expansion in the production of food and beverages—the only category that logged growth.
Meanwhile, annual average growth in manufacturing output edged down to 0.3% in September from 0.5% in August.
On a month-on-month basis, manufacturing output fell 2.4% in seasonally-adjusted terms in September, contrasting a 1.3% expansion in the previous month.