South Africa: Manufacturing swings to expansion in March
May 12, 2015
In March, manufacturing production rose 3.8% over the same month last year, which contrasted the 0.4% decrease seen in February and marked a six-month high. March’s increase was driven by expanding output in textiles as well as in food and beverages.
On a monthly basis, manufacturing output rose 1.2% in seasonally-adjusted terms, which followed the 0.9% increase tallied in the previous month. In addition, annual average growth in industrial production advanced from a 0.4% drop in February to a 0.2% softer decrease in March.
Author: Dirina Mançellari, Senior Economist