South Africa: Manufacturing production growth accelerates in October
Latest reading: Manufacturing production increased 1.0% in seasonally adjusted month-on-month terms in October, following a 0.3% rise in the previous month.
Relative to the previous month’s data, readings in October improved for petroleum, chemical products, rubber and plastic products (+1.1% in seasonally adjusted month-on-month terms vs -1.6% in September), food and beverages (+0.6% vs -0.4% in September) and wood and wood products, paper, publishing and printing (-0.6% vs -1.5% in September). In contrast, the reading for basic iron and steel, non-ferrous metal products, metal products and machinery worsened in October (+2.4% vs +4.3% in September).
On a year-on-year basis, manufacturing output was up 0.2% in October, following 1.0% growth in the previous month.