SA’s manufacturing output drops 2% in March
Business Day Live - May 12th 2016, 14:50
Manufacturing production slipped in March, suggesting sluggish demand in this vital sector of SA’s economy.
For the month, manufacturing output dipped 2% on an annualised basis, Statistics SA data showed on Thursday. This follows a rise in February, when manufacturing output gained 1.9% year on year.
The drop was mainly due to lower production in the basic iron and steel, furniture, motor vehicle as well as food categories.
Manufacturing makes up 12.5% of SA’s gross domestic product, so the decrease in output is likely to weigh on economic growth.
Seasonally adjusted manufacturing production dropped 0.3% in March from the year-earlier period.
This followed month-on-month changes of 1.6% in February 2016 and -1.8% in January 2016.
Seasonally adjusted manufacturing production rose 0.1% in the first quarter of this year, compared with the same period in 2015.
Only four of the 10 manufacturing divisions reported positive growth rates over this period.From Business Day Live
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