Manufacturing output down 4.3% y/y in May
South Africa's manufacturing production decreased by 4.3% year-on-year in May, with the food and beverage; basic iron and steel, nonferrous metal products, metal products and machinery; and wood and wood products, paper, publishing and printing sectors having made the biggest negative contributions.
Statistics South Africa reports that food and beverage production decreased by 6.4% year-on-year, contributing -1.6 percentage points to the overall figure. Basic iron and steel, nonferrous metal products, metal products and machinery output decreased by 5.6%, contributing -1.3 percentage points, while wood and wood products, paper, publishing and printing output decreased by 11%, contributing -1 percentage point.
On a month-on-month basis, seasonally adjusted manufacturing production increased by 1.1% in May. This followed month-on-month changes of -2.6% in April and 1.1% in March.
Seasonally adjusted manufacturing production, however, decreased by 1% in the three months ended May, compared with the previous three months. Six of the ten manufacturing divisions reported negative growth rates over this period.
Meanwhile, seasonally adjusted manufacturing sales decreased by 1.8% month-on-month in May. This followed month-on-month changes of 0.7% in April and 2.2% in March.
Seasonally adjusted manufacturing sales increased by 3.2% in the three months ended May, compared with the previous three months. The largest positive contributions were made by the motor vehicles, parts and accessories and other transport equipment division (12.8% and contributing 1.6 percentage points) and the petroleum, chemical products, rubber and plastic products division (5.4% and contributing 1.2 percentage points).
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