South Africa’s manufacturing production declines 0.7% in July
Statistics South Africa (Stats SA) has reported that manufacturing production decreased by 0.7% year-on-year in July.
Stats SA industry statistics director Nicolai Claassen notes that seven of the ten manufacturing divisions recorded a decline in production, with the metals and machinery products division being the main negative contributor.
He notes that manufacturers in metals and machinery products recorded a decrease of 3.3% year-on-year, subtracting 0.7 of a percentage point from overall manufacturing growth.
Wood, paper, printing and publishing was the second largest drag on growth, declining by 1.8% and subtracting 0.2 of a percentage point.
Additionally, seasonally adjusted manufacturing production decreased by 0.5% in July compared with June. This followed month-on-month changes of 0.4% in June and 2.3% in May.
Stats SA notes that seasonally adjusted manufacturing production increased by 2.5% in the three months ended July compared with the previous three months.
Seven of the ten manufacturing divisions reported positive growth rates over this period, with food and beverages; petroleum, chemical products, rubber and plastic products; and motor vehicles, parts and accessories and other transport equipment being the largest positive contributors, with output growth of 3.4%, 4.1% and 4.8%, respectively.
SALES RESULTS
Meanwhile, on a month-on-month basis, seasonally adjusted manufacturing sales decreased by 0.3% in July compared with June. This followed month-on-month contraction of 2.2% in June and 1.9% in May.
Seasonally adjusted manufacturing sales increased by 2.6% in the three months ended July compared with the previous three months.
The largest positive contributions were made by the food and beverages division and the petroleum, chemical products, rubber and plastic products division.
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