Reasons for the pessimistic outlook on business conditions, the survey says, include prolonged wildcat strikes, declining mine investments, the proposed electricity hikes and unfavourable labour conditions due to above-inflation wage demands. Despite an increase of 49000 jobs in the manufacturing sector, the manufacturing labour market remains under stress.
According to The New Age,
the study reveals that both domestic and global demand conditions remained downbeat during the third quarter. "Many respondents reported that production within manufacturing was negatively affected by spill over effects from strikes." Another factor contributing to the sector's decline is the lack of skills and technology, the study concludes.the http://www.thenewage.co.za/70919-9-53-Manufacturing_sector_expected_to_remain_fragile_in_medium_term full article
Posted on 22 Nov 2012 12:01