Manufacturing production in South Africa fell by 1.1% year-on-year (y/y) in September after a downwardly revised 2.8% (3.0%) year-on-year rise in August‚ data released by Statistics SA on Thursday showed.
Seasonally adjusted manufacturing production increased by 0.3% for the three months ended September compared with the second quarter of this year.
The 1.1% y/y decrease in manufacturing production was mainly due to lower production in the food and beverages division‚ at -5.2% and a -0.9 percentage point contribution; basic iron and steel‚ non-ferrous metal products‚ metal products and machinery‚ at -2.6% and a -0.5 percentage point contribution; and electrical machinery‚ at -11.1% and a -0.4 percentage point contribution.
Glass and non-metallic mineral products were down 7.7% and contributed -0.4 of a percentage point; textiles‚ clothing‚ leather and footwear were down -4.2% and contributed -0.2 of a percentage point; and motor vehicles‚ parts and accessories and other transport equipment fell 1.4% and contributed -0.2 of a percentage point.
Six of the 10 manufacturing divisions reported positive growth rates over this period.
The largest contributions to the increase of 0.3% were made by the wood and wood products‚ paper‚ publishing and printing division (4.0% and contributing 0.4 of a percentage point); the basic iron and steel‚ non-ferrous metal products‚ metal products and machinery division (1.8% and contributing 0.3 of a percentage point); and petroleum‚ chemical products‚ rubber and plastic products divisions (0.7% and contributing 0.2 of a percentage point).
Seasonally adjusted sales of manufactured products (at current prices) decreased by 0.4% (-R1.469bn) in the third quarter of this year compared with the second quarter. Five of the 10 manufacturing divisions reported negative growth rates over this period.
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I think that sometimes statistics don't say much. By the report at my work some months that we are extremely busy and enclose a lot of deals shows a negative trends. So we try not to get involved in analysing these numbers too much.