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Financial News: South Africa Manufacturing Output Continues To Fall

South Africa Manufacturing Output Continues To Fall

01/12/2021 - 06:27:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output continued to decline in November, data from Statistics South Africa showed on Tuesday.

Manufacturing output fell 3.5 percent year-on-year in November, following an 3.4 percent decline in October.

The biggest negative contribution came mainly from petroleum, chemical products, rubber and plastic products, food and beverages, and basic iron and steel, non-ferrous metal products, metal products and machinery.

On a month-on-month basis, manufacturing output fell 1.3 percent in November, after a 3.2 percent growth in the preceding month. Economists had expected a 0.3 percent rise.

During the three months ended in November, manufacturing output gained 8.9 percent, after a 17.4 percent increase in the preceding period.

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