South Africa: Manufacturing rebounds in April
June 12, 2016
In April, manufacturing production increased 2.9% over the same month last year, which contrasted the 2.4% decrease seen in the previous month and marked the fastest increase in nine months. April’s increase was mainly driven by increasing output in the textile, clothing, leather and footwear category.
On a monthly basis, manufacturing output expanded 0.8% in seasonally-adjusted terms, which contrasted the 0.6% decrease observed in March. Moreover, annual average growth in industrial production swung from minus 0.3% in March to plus 0.1% in April. The previous month’s figure had marked the lowest level since February 2015.
Author: Dirina Mançellari, Senior Economist