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Financial News: South Africa Manufacturing Output Growth At 5-Month High

South Africa Manufacturing Output Growth At 5-Month High

05/09/2019 - 07:46:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output grew to the highest level in five months in March, preliminary data from Statistics South Africa showed on Thursday.

The manufacturing output rose the non-adjusted 1.2 percent year-on-year in March, following a 0.5 percent rise in February. Economists had expected the output to rise 0.1 percent.

The latest growth was the biggest since last October, when it was 3.1 percent.

The biggest positive contributions were from petroleum, chemical products, rubber and plastic products, basic iron and steel, non-ferrous metal products, metal products, machinery and food and beverages.

On a monthly basis, manufacturing output rose 0.8 percent in March, after a 2.0 percent fall in the previous month.

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