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Manufacturing output grows 3.9% in January

March 15 2013 at 08:00am

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Manufacturing growth accelerated to 3.9 percent in January from 2 percent in December, Statistics SA said yesterday. A survey of 11 economists had forecast an increase of 2.7 percent. Output gained 2 percent in the month. The petroleum and chemical sector contributed 2.8 percentage points of the annual rise as output rose 11.1 percent. While the rand’s 8.4 percent slump against the dollar this year is adding to pressure on inflation, it may benefit manufacturing. The currency had become “a lot more competitive”, Trade and Industry Minister Rob Davies said last week, presenting an opportunity for manufacturers competing for customers internationally. – Bloomberg


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