Manufacturing output down y/y

South Africa’s manufacturing output fell 0.8% year-on-year in May, after falling by 4.2% in April, Statistics South Africa said yesterday.

Economists had forecast manufacturing volumes would contract by 4.5% year-on-year in May. Production (monthon-month) fell 0.3%, but was up 0.4% in the three months to May compared with the previous three months.