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Financial News: South Africa Manufacturing Output Declines In January

South Africa Manufacturing Output Declines In January

03/11/2021 - 07:10:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output declined in January after falling in the previous month, data from Statistics South Africa showed on Thursday.

Manufacturing output declined 3.4 percent year-on-year in January, after a 1.9 percent growth in December.

The largest negative contributions came from petroleum, chemical products, rubber and plastic products, food and beverages, and furniture and 'other' manufacturing

On a month-on-month basis, manufacturing output increased 0.5 percent in January, following a 0.6 percent rise in the preceding month. This was in line with economists' expectation.

During the three months ended in January, manufacturing output gained 2.2 percent, after a 5.3 percent increase in the preceding period.

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