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SA’s manufacturing output drops 2% in March
SA’s manufacturing output drops 2% in March

SA’s manufacturing output drops 2% in March

ECONOMIC NEWS

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 

Read more about: south africa | manufacturing | economy

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