Finweek English Edition
MANUFACTURING DOWN -4.1%
SA’s manufacturing output fell 4.1% year-on-year in July after rising by a revised 11.9% in June, reported Stats SA. Factory production contracted 8% month-on-month in July and fell 5.5% in the three months to end-July compared to the previous three months. Thanda Sithole, senior economist at FNB, said while the manufacturing purchasing managers’ index (PMI) showed a solid recovery in manufacturing activity in August, the impact of the July unrest, the global shortage of raw materials (and semiconductors) and higher input costs could delay the recovery of manufacturing activity.