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Financial News: South Africa Manufacturing Output Growth Improves Strongly

South Africa Manufacturing Output Growth Improves Strongly

09/11/2018 - 07:26:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output grew at a faster pace in July, preliminary data from the statistical office showed Tuesday.

Manufacturing output grew an unadjusted 2.9 percent year-on-year following 0.6 percent increase in June. In May, production rose 0.6 percent.

The largest contributions came from food and beverages, where output rose 5.8 percent. Production in the automobile trade increased 8.3 percent.

On a month-on-month basis, manufacturing output grew a seasonally adjusted 1.6 percent after a modest 0.2 percent gain in the previous month.

Factory sales grew 11.3 percent year-on-year in July after a 5 percent increase in June. Sales rebounded 2.9 percent on a monthly basis following a 0.2 percent drop in the previous month.

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