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Financial News: South Africa Manufacturing Output Growth Slows

South Africa Manufacturing Output Growth Slows

07/12/2021 - 07:06:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output increased at a softer pace in May, data from Statistics South Africa showed on Monday.

Manufacturing output grew 35.3 percent year-on-year in May, after a 88.1 percent rise in April.

The largest positive contributions came from motor vehicles, parts and accessories and other transport equipment, basic iron and steel, non-ferrous metal products, metal products and machinery, food and beverages, and wood and wood products, paper, publishing and printing.

On a month-on-month basis, manufacturing output decreased 2.6 percent in May, following a 1.2 percent fall in the preceding month. Economists had expected a 0.5 percent rise.

During the three months ended in May, manufacturing output gained 1.0 percent, following a 0.8 percent rise in the preceding period.

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