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Financial News: South Africa Manufacturing Output Rises In August

South Africa Manufacturing Output Rises In August

10/12/2021 - 07:51:00 (RTTNews)

(RTTNews) - South Africa's manufacturing output increased in August, data from Statistics South Africa showed on Tuesday.

Manufacturing output gained 1.8 percent year-on-year in August, after a 4.8 percent rise in July. Economists had expected a 3.6 percent rise.

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

On a month-on-month basis, manufacturing output increased 7.6 percent in August, after a 8.4 percent fall in the preceding month. Economists had expected a 3.0 percent fall.

During the three months ended in August, manufacturing output declined 6.3 percent, following a 5.8 percent drop in the preceding period.

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