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SA manufacturing production 4.1% y/y vs Jan rev 2.3%
Manufacturing production in SA grew by 4.1% year on year (y/y) in February after a revised 2.3% (2.4%) y/y rise in January, data released by Statistics SA on Wednesday, 11 April 2012, showed.
The 4.1% y/y increase in manufacturing production for February 2012 was mainly due to higher production in the following divisions:
- food and beverages (8.9%);
- basic iron and steel, non-ferrous metal products, metal products and machinery (7.3%);
- glass and non-metallic mineral products (13.2%);
- petroleum, chemical products, rubber and plastic products (2.5%); and
- furniture and other manufacturing (4.4%).
The motor vehicles, parts and accessories and other transport equipment division recorded a contraction y/y of 3.0%.
Seasonally adjusted manufacturing production for the three months ended February 2012 increased by 1.6% compared with the previous three months ended November 2011.
Six of the ten manufacturing divisions reported positive growth rates over this period.
The increase was driven mainly by higher production recorded for: the petroleum, chemical products, rubber and plastic products division (4.0%); the basic iron and steel, non-ferrous metal products, metal products and machinery division (3.3%); the wood and wood products, paper, publishing and printing division (2.7%); and the food and beverages division (1.8%).
However, these increases were partially counteracted by decreases reported by: the electrical machinery division (-8.5%); and the furniture and other manufacturing division (-6.1%).
Source: I-Net Bridge
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