Manufacturing production down by 0.9% in first quarter
Manufacturing production slumped in the first quarter of the year, Statistics SA reported on Thursday. Seasonally adjusted manufacturing production decreased by 0.9% in the first quarter compared with the fourth quarter of 2016.
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Seven of the 10 manufacturing divisions reported negative growth rates over this period based on lacklustre demand. The mining production data, which came in better than expected, will likely offset the manufacturing sector's impact on GDP in the first quarter.
Manufacturing production increased by 0.3% in March 2017 compared with March 2016. The rise is due to the prior year's factory output reduced by the Easter holidays falling in March.
Seasonally adjusted manufacturing production decreased by 0.6% in March 2017 compared with February 2017. This followed month-on-month contractions of 0.3% in February and 0.7% in January.
Source: BDpro