Sun, 17 Nov 2019

South Africa's annual manufacturing production fell for a fourth consecutive month in September, Stats SA announced on Thursday.

Manufacturing production fell by 2.4% in September 2019 when compared with September 2018, a decrease well above the estimates of analysts.

On a monthly basis, production decreased by 2.4% between August and September.

Of the 10 manufacturing divisions that the index tracks, only food and beverages showed positive annual growth of 2.8%. The largest annual decline was in the glass and non-metallic mineral products sector, which decreased by 6.7%.

Lara Hodes of Investec, in a note to clients on Thursday afternoon, said the poor manufacturing data would detract from South Africa's 3rd quarter GDP result.

More Africa News

Access More

Sign up for The Africa News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!