SA July manufacturing production down 7.9% y/y

Manufacturing production fell much more than expected in July - mainly reflecting the damaging effect a strike by steel and engineering workers during the month had on output.

12 Sep 2014

SA July manufacturing production down 7.9% y/y

Manufacturing production fell 7.9% year on year in July - the biggest contraction since October 2009 - after increasing 0.2% in June‚ Statistics SA figures showed on Thursday, 11 September 2014.

Manufacturing output fell 3.6% between June and July.

The 7.9% year-on-year decrease in manufacturing production was mainly due to lower production in the following divisions: basic iron and steel‚ non-ferrous metal products‚ metal products and machinery (-20.4% and contributing -4.1 percentage points); motor vehicles‚ parts and accessories and other transport equipment (-29% and contributing -2.9 percentage points); and petroleum‚ chemical products‚ rubber and plastic products (-5.3% and contributing -1.2 percentage points).

Seasonally adjusted manufacturing production decreased by 2% in the three months ended July 2014 compared with the previous three months. Six of the 10 manufacturing divisions reported negative growth rates over this period.

The largest negative contributions to the decrease of 2% were made by the following divisions: basic iron and steel‚ non-ferrous metal products‚ metal products and machinery (-5.3% and contributing -1.1 percentage points); and motor vehicles‚ parts and accessories and other transport equipment (-8.2% and contributing -0.7 of a percentage point).

Source: Business Day

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