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Financial News: South Africa Manufacturing Output Decline Slows In January

South Africa Manufacturing Output Decline Slows In January

03/12/2020 - 07:22:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output declined at a softer pace in January, data from Statistics South Africa showed on Thursday.

Manufacturing output fell 2.0 percent year-on-year in January, following a 5.9 percent decline in December.

The biggest negative contributions came from wood and wood products, paper, publishing and printing, motor vehicles, parts and accessories and other transport equipment, textiles, clothing, leather and footwear, basic iron and steel, non-ferrous metal products, metal products and machinery, and petroleum, chemical products, rubber and plastic products.

On a month-on-month basis, manufacturing output rose 2.5 percent in January, reversing a 3.0 percent fall in the preceding month.

For the three months period ended in January, manufacturing output fell 1.8 percent, following a 0.5 percent decrease in the previous three months.

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