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Financial News: South Africa Manufacturing Production Rises Less Than Fore

South Africa Manufacturing Production Rises Less Than Forecast

08/07/2018 - 07:24:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output grew for the third successive month in June, though at a slower-than-expected pace, preliminary figures from Statistics South Africa showed Tuesday.

Manufacturing production advanced an unadjusted 0.7 percent year-over-year in June, slower than the 2.0 percent increase in May. That was also below the 2.2 percent rise economists had forecast.

The overall increase in June was driven by higher production of food and beverages, petroleum, chemicals, rubber and plastic products.

On a monthly basis, manufacturing production gained a seasonally adjusted 0.3 percent from May, when it rebounded by 1.3 percent. The expected rise was 0.4 percent.

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