SA March manu prod -2.7% y/y vs Feb rev 4.0%

The 2.7% y/y decrease in manufacturing production was mainly due to lower production in the following divisions: motor vehicles, parts and accessories and other transport equipment, which contracted 6.3% and contributed -0.7 of a percentage point; food and beverages with a contraction of 3.6% and contributing -0.6 of a percentage point.

Basic iron and steel, non-ferrous metal products, metal products and machinery fell 2.3% and contributed -0.5 of a percentage point; petroleum, chemical products, rubber and plastic products shed 1.8% and contributed -0.4 of a percentage point; while furniture, and other manufacturing fell 7.0% and contributed -0.3 of a percentage point.

Manufacturing production for the first quarter of 2012 reflected an increase of 1.0% compared with the first quarter of 2011.

Seven of the ten manufacturing divisions reported positive growth over the period.

Seasonally adjusted manufacturing production for the first quarter of 2012 increased by 1.9% compared with the fourth quarter of 2011.

Seven of the ten manufacturing divisions reported positive growth rates over this period.

The increase was driven mainly by higher production recorded for: the petroleum, chemical products, rubber and plastic products division (3.8%); the motor vehicles, parts and accessories and other transport equipment division (6.2%); the furniture and other manufacturing division (6.1%); and the basic iron and steel, non-ferrous metal products, metal products and machinery division (1.6%).