Manufacturing records contraction in overall output for August
Statistics South Africa reports that the country’s manufacturing production decreased by 1.2% year-on-year in August, with the largest negative contributors having been motor vehicles, parts and accessories, as well as basic iron and steel, nonferrous metal products, metal products and machinery.
Motor vehicles recorded a 16.1% contraction in output, contributing -1.6 percentage points to the headline figure, while basic iron and steel contracted by 5.4% and contributed -1.2 percentage points.
The largest positive contributor was food and beverages with an output growth rate of 5.8% and a contribution of 1.3 percentage points.
Seasonally adjusted manufacturing production decreased by 0.6% in August, compared with July, which followed month-on-month changes of 1.6% in July and 0% in June.
In the three months ended August 31, seasonally adjusted manufacturing production increased by 0.1%, compared with the previous three months.
Four of the ten manufacturing divisions reported positive growth rates over this period, particularly basic iron and steel, which grew by 1.8% and contributed 0.4 of a percentage point.
Seasonally adjusted manufacturing sales also decreased by 1.8% in August, compared with July, which followed month-on-month changes of 1.8% in July and 0.5% in June.
In the three months ended August 31, seasonally adjusted manufacturing sales increased by 0.3%, supported by petroleum, chemical products, rubber and plastics products, which grew by 6.9% in the period and contributed 1.4 percentage points.
The largest negative contributors in this period, however, were motor vehicles and basic iron and steel, which contracted by 3.5% and 1.7%, respectively, contributing -0.6 and -0.4 of a percentage point, respectively.
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