Manufacturing production increased by 2.5% y/y in May
Statistics South Africa has reported that manufacturing production increased by 2.5% in May this year compared with May last year.
The largest contributions were made by the motor vehicles, parts and accessories and other transport equipment (15.1% and contributing 1.4 percentage points) and the basic iron and steel, non-ferrous metal products, metal products and machinery (5.8% and contributing 1.2 percentage points) sectors.
Seasonally adjusted manufacturing production, however, decreased by 1.3% month-on-month. This followed month-on-month changes of 0.7% in April this year, and 3.8% in March.
Meanwhile, seasonally adjusted manufacturing production increased by 2.8% in the three months ended May compared with the previous three months.
Seven of the ten manufacturing divisions reported positive growth rates over this period.
The largest contributions were made by the petroleum, chemical products, rubber and plastic products (6.9% and contributing 1.4 percentage points), as well as basic iron and steel, non-ferrous metal products, metal products and machinery (4.6% and contributing 0.9 of a percentage point) divisions.
Seasonally adjusted manufacturing sales, meanwhile, decreased by 2.7% month-on-month in May. This followed month-on-month changes of -0.5% in April this year and 3.9% in March.
Seasonally adjusted manufacturing sales increased by 3.8% in the three months ended May compared with the previous three months.
The largest contributions were made by the food and beverages division (6.8% and contributing 1.6 percentage points) and the petroleum, chemical products, rubber and plastic products division (4.9% and contributing 1 percentage point).
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