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Production levels rise at SA factories

13 Jan 2012

Production levels at South African factories rose by 2.6% in November, compared with the same month in the previous year according to figures released by Statistics South Africa.

Business Day quotes Absa Capital economist Jeffrey Schultz as saying that the increase was better than the consensus forecast by economists and indicates that the manufacturing sector is starting to build momentum for 2012.

However, Nedbank's economist Nicky Weimar described South Africa's manufacturing figures as "subdued", warning that conditions will probably decline in 2012 on the back of weak demand from European countries that could undermine exports, according to the Business Day report.

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