Mining data shows economy may be perking up
By Sunita Menon - Mar 14th, 16:10
SA’s economy appears to be perking up as the slowdown in mining eases. The rise in commodity prices due to an improvement in global demand led to a 1.3% year-on-year increase in mining production in January.
Mining, which contributes about 8% to GDP, contracted 4% in the fourth quarter of 2016.
On March 7, Statistics SA said GDP had contracted 0.3% quarter on quarter in the fourth quarter of 2016 due to a slump in mining and manufacturing sectors. Growth in This made 2016 the worst year since the 2009 recession.
With signs of growth in the mining sector, things are looking up for first-quarter 2017 GDP.
The two main positive contributors were manganese ore and iron ore, which both contributed 1.2 percentage points, while coal was a significant negative contributor.
Seasonally adjusted mining production increased by 1.7% in January 2017 compared with December 2016 following month-on-month contractions of 0.3% in December 2016 and 4.7% in November 2016.
Manufacturing production is set to be released on Tuesday afternoon.© BusinessLIVE MMXVII
Mining output figure much higher in May than economists’ predictions
19/07/2017 - 09:07
The mining sector may help SA navigate out of recession, following possible positive growth in the sector in the second quarter, but the industry remains under increasing pressure.
Manufacturing production falls marginally in May
11/07/2017 - 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.
Manufacturing suffers sharp decline in June
03/07/2017 - 11:23
South African factory output suffered a sharp decline in June, judging by the Absa purchasing managers index (PMI) which showed a shock 4.8 point drop to 46.7 points.
Trade and business services lost the most jobs in the first quarter
27/06/2017 - 14:43
Employment levels fell in the first quarter of 2017, though mining and construction both showed increased.
Hisense celebrates local milestone in TV and Fridge production
20/06/2017 - 12:59
Hisense South Africa, the global electronics forerunner, is celebrating an impressive milestone at its local manufacturing facility today as both the one millionth television set and the one millionth fridge unit will be rolling off the production line. Coincidentally, this happens as the factory marks its fourth year of operation in Atlantis outside Cape Town.