Advertise with fastmoving.co.za
 
 

Blow for GDP as manufacturing joins mining in October fall
Blow for GDP as manufacturing joins mining in October fall

Blow for GDP as manufacturing joins mining in October fall

ECONOMIC NEWS

bdlive.co.za - Dec 9th 2016, 14:30

The volume of goods produced by South African factories fell 2.7% in October from the same month in 2015, Statistics SA reported on Thursday. 

Stats SA’s manufacturing volume index came in at 115 points in October, down from 118.2 points the previous year.

Manufacturing data was Thursday’s second blow to hopes of SA’s fourth-quarter gross domestic product showing an improvement from the third quarter's 0.2% growth. Stats SA earlier reported mining production fell 2.9% in October from the same month the previous year.

Measured by value, South African factories sold R181.5bn worth of goods in October, 3.5% higher than the R175.3bn sold in October 2015, and 0.3% higher than the R181bn sold in September.

Stats SA revised September’s figure to show a 0.2% annual growth in manufacturing volume from the provisionally reported zero percent.

The main contributors to October’s manufacturing volume decline were food and beverages which fell 7.3% from the previous year, transport equipment which fell 9.9%, and petroleum products which fell 1.7%.© Business Live MMXVI 

Related News

Manufacturing growth remains tepid in February
12/04/2019 - 09:24
Manufacturing production grew 0.6% in February after the sector saw subdued growth of 0.3% in January. This was slightly above the Bloomberg consensus of 0.5%.

Retailers feel the heat as e-commerce siphons off sales
11/04/2019 - 09:47
The start of 2019 has been bleak for most SA retailers, raising questions about the future of the sector.

SA makes its mark in fisheries economy
10/04/2019 - 11:11
South Africa is no longer a spectator country in the business of the ocean and fisheries economy, says Minister of Agriculture Forestry and Fisheries Senzeni Zokwana.

Exports to Brazil take off over South American trade deal
10/04/2019 - 11:03
The ratification of trade agreements between the Southern African Customs Union (Sacu) and the Southern Common Market (Mercosur), a South American trade bloc, has been a key driver of the increase in exports to Brazil.

SA is experiencing net equity outflows
09/04/2019 - 10:05
The Institute of International Finance (IIF) said that its daily tracker showed South Africa experienced net outflows of non-resident portfolio equity in the first quarter while debt flows recovered only modestly.