South Africa: Manufacturing swings to contraction in April
June 11, 2015
In April, manufacturing production fell 2.0% over the same month last year, which contrasted the 4.0% increase seen in the previous month and marked a three-month low. April’s decrease was mainly driven by contracting output in textiles as well as in food and beverages.
On a monthly basis, manufacturing output fell 2.0% in seasonally-adjusted terms, which contrasted the 1.2% increase tallied in March. In addition, annual average growth in industrial production fell from a 0.2% drop in March to a 0.3% decrease in April.
Author: Dirina Mançellari, Senior Economist