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Financial News: South Africa Manufacturing Output Falls Sharply In April

South Africa Manufacturing Output Falls Sharply In April

07/09/2020 - 07:51:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output declined at a faster pace in April as the Covid-19 pandemic and lockdown regulations since late March had an extensive impact on economic activity, data from Statistics South Africa showed on Thursday.

Manufacturing output fell 49.4 percent year-on-year in April, following a 5.5 percent decline in March.

The biggest negative contribution came mainly from basic iron and steel, non-ferrous metal products, metal products and machinery, petroleum, chemical products, rubber and plastic products and motor vehicles, parts and accessories and other transport equipment.

On a month-on-month basis, manufacturing output plunged 44.3 percent in April but slower than the 1.2 percent decline in the preceding month.

During three months ended April, manufacturing output fell 16.9 percent, following a 2.0 percent decrease in the preceding period.

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