Manufacturing production falls marginally in May
By Sunita Menon - Jul 11th 2017, 13:42
Manufacturing production fared better than expected, falling only marginally in May 2017. It fell by 0.8% year on year compared with May 2016.
This comes after positive signs in the Absa Purchasing Managers’ Index (PMI) which picked up significantly from 44.7 in April to 51.5 in May. A score above 50 indicates an expanding manufacturing sector.
The decrease was mainly due to lower production in petroleum, chemical products, rubber and plastic products, which contracted by 8.4%, which reduced the overall figure by 2.1 percentage points, while basic iron and steel, non-ferrous metal products, metal products and machinery increased by 5.2% and contributed one percentage point, and food and beverages which increased by 3.5% and contributed 0.9 of a percentage point.
Investec economist Kamilla Kaplan said she expected manufacturing production to have declined 4.9% year on year in May after a contraction of 4.1% in April. Trading Economics forecasts a marginal increase of 0.2%.
Seasonally adjusted manufacturing production decreased by a marginal 0.3% in May 2017 compared with April 2017. © BusinessLIVE MMXVII
Inflation eases even more than expected
21/08/2019 - 10:36
Inflation eased more than expected to 4% in July.
Survivor crowned 2019 ABSA Top Ten Pinotage
15/08/2019 - 11:25
Survivor, the unbridled Swartland wine range, has been recognised as one of South Africa’s top Pinotage producers making the cut in the prestigious 2019 ABSA Top Ten Competition.
We need to rethink our food system to tackle climate change
15/08/2019 - 09:19
The way we produce, consume and discard food is no longer sustainable.
Crackdown on informal traders will hurt economy, says refugee forum
13/08/2019 - 09:40
SA’s embattled economy could be strained further if the crackdown on informal traders continues unabated, the African Diaspora Forum (ADF) warns.
Retail boost could steer SA away from a recession
12/08/2019 - 12:37
A rebound in economic growth in the second quarter of the year will likely see SA avert its second recession in two years.