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Manufacturing production down 1.1% y/y in March

11th May 2023

By: Creamer Media Reporter

     

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Manufacturing production decreased by 1.1% year-on-year in March, with the petroleum, chemical products, rubber and plastic products and·textiles, clothing, leather and footwear being the largest negative contributors.

The largest positive contributions were made by the food and beverages and motor vehicles, parts and accessories and other transport equipment sectors.

Seasonally adjusted manufacturing production increased by 4% in March, compared with February. This followed month-on-month changes of -1.3% in February and 0.3% in January.

Seasonally adjusted manufacturing production increased by 1.4% in the first quarter of this year, compared with the fourth quarter of 2022. Four of the ten manufacturing divisions reported positive growth rates over this period.

Meanwhile, seasonally adjusted manufacturing sales increased by 3.6% in March, compared with February. This followed month-on-month changes of 1.8% in February and -0.1% in January.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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