South Africa: Manufacturing production falls in February
Latest reading: Manufacturing production declined 2.2% in seasonally adjusted month-on-month terms in February, following a 1.9% rise in the previous month.
Relative to the previous month’s data, readings in February softened for food and beverages (-2.3% in seasonally adjusted month-on-month terms vs +1.7% in January), basic iron and steel, non-ferrous metal products, metal products and machinery (+0.1% vs +1.8% in January) plus wood and wood products, paper, publishing and printing (-3.9% vs +0.2% in January). In contrast, the reading for petroleum, chemical products, rubber and plastic products improved in February (-1.6% vs -3.7% in January).
In annual terms, manufacturing output declined 2.8% in February, following a 0.1% decline in the prior month.