South Africa: Manufacturing rebounds in July
September 10, 2015
In July, manufacturing production rose 5.6% over the same month last year, which contrasted the 0.5% decrease seen in the previous month and marked the highest reading in 10 months. July’s increase was mainly driven by expanding output in metal products and machinery as well as in motor vehicles.
On a monthly basis, manufacturing output rose 0.3% in seasonally-adjusted terms, which followed the 0.8% increase observed in June. Moreover, annual average growth in industrial production rebounded from a 0.3% drop in June to a 0.8% increase in July, which marked the highest reading since June 2014.
Author: Dirina Mançellari, Senior Economist