Financial News: South Africa Manufacturing Output Declines Further

South Africa Manufacturing Output Declines Further

08/08/2024 - 13:05:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output decreased for the second straight month in June, data from Statistics South Africa showed on Thursday.

Manufacturing production dropped 5.2 percent year-over-year in June, much faster than the 1.2 percent fall in May.

The negative contributions to the annual decline were basic iron and steel, non-ferrous metal products, metal products and machinery, motor vehicles, parts and accessories, and other transport equipment, as well as food and beverages, the agency said.

On a monthly basis, manufacturing production decreased 0.5 percent from May, when it fell by 3.6 percent.

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