Manufacturing dips slightly by 2.5%

“The major contributor to the seasonally adjusted decrease of 2.5% in total manufacturing production for the third quarter of 2008 compared with the second quarter of 2008 was the motor vehicles, parts and accessories and other transport equipment division followed by the food and beverages division,” said Stats SA.

The manufacturing production for September 2008, however, increased by 4.9% compared with September 2007.

The higher annual growth rate in manufacturing production for September 2008 was mainly due to strike action within the motor vehicle parts and accessories industries during September 2007.

In terms of the increase of seasonally adjusted sales of manufactured products, the estimated total value of sales of manufactured products at current prices for the third quarter of 2008 increased by 1.1%.

The 1.1% increase reflects a gain of R3,980 million, after seasonal adjustment, compared with the second quarter of 2008, Stats SA said.

Higher manufacturing sales were reported by six of the 10 manufacturing divisions during this period.

The seasonally adjusted increase of 1.1% in the total value of sales of manufactured products for the third quarter compared with the second quarter was mainly due to increases reported for iron and steel, non-ferrous metal products, metal products and machinery division, petroleum, chemical products, rubber and plastic products division and the food and beverages division.

Article published courtesy of BuaNews