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Financial News: South Africa Manufacturing Output Drops In October

South Africa Manufacturing Output Drops In October

12/09/2021 - 06:34:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output dropped in October, data from Statistics South Africa showed on Thursday.

Manufacturing output declined 8.9 percent year-on-year in October, after a 0.7 percent growth in September. Economists had expected a 0.7 percent rise .

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, motor vehicles, parts and accessories and other transport equipment.

On a month-on-month basis, manufacturing output decreased 5.9 percent in October, after a 3.0 percent rise in the preceding month. Economists had expected a 0.1 percent fall.

During the three months ended in October, manufacturing output rose 0.9 percent, after a 4.2 percent fall in the preceding period.

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