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Financial News: South Africa Manufacturing Output Decline At A Softer

South Africa Manufacturing Output Decline At A Softer Pace

04/08/2021 - 07:48:00 (RTTNews)

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

Manufacturing output declined 2.1 percent year-on-year in February, following a 4.2 percent fall in January.

The largest negative contributions came from petroleum, chemical products, rubber and plastic products, basic iron and steel, non-ferrous metal products, metal products and machinery, and furniture and 'other' manufacturing.

On a month-on-month basis, manufacturing output decreased 1.2 percent in February, after remaining unchanged in the preceding month. Economists had expected a 0.4 percent rise.

During the three months ended in February, manufacturing output gained 0.3 percent, after a 2.0 percent increase in the preceding period.

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