Rebound in manufacturing production encouraging, says SEIFSA
This article has been supplied.
The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) welcomes the rebound in production in the broader manufacturing sector, especially given that this is the first increase recorded since September 2019, Economist Marique Kruger said.
The latest preliminary data published by Statistics South Africa (Stats SA) today captures an increase (year on year) in production in the broader manufacturing sector in January 2020. Output in the sector rebounded, increasing to -2.0 percent in January 2020, from -5.9 percent in December 2019.
Speaking after the release of the data, Ms Kruger said given the fact that the manufacturing sector continues to face headwinds, the rebound in output is encouraging. She said increasing levels of production have the propensity to further relieve pressure on struggling companies, thus positively affecting their bottom lines.
“This is good, given the poor state of the domestic economy, as evidenced by a second consecutive decrease in real Gross Domestic Product and volatility in input costs which could impact negatively on the outlook for manufacturing production in the medium term,” said Ms Kruger.
She said that she was hopeful that companies in the sector would build on the positive performance and continue to remain resilient, despite the existence of numerous headwinds.
Comments
Projects
Latest News
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
