JOHANNESBURG - Manufacturing production for August came in far better than the purchasing managers' index (PMI) for the same month had suggested, expanding 1.3 percent year-on-year from 2.8 percent in July.
Statistics South Africa reported on Tuesday that manufacturing production increased by 1.3 percent in August 2018 compared with August 2017. A 3.3 percent year-on-year increase in food and beverages made the largest positive contribution followed by basic iron and steel, non-ferrous metal products, metal products and machinery.
Petroleum output registered a modest expansion of 0.3 percent year-on-year, while vehicle production rose 5.6 percent year-on-year.
The biggest detractors from the growth figure were the manufacture of electrical machinery and radio, television and communication apparatus, which contracted nine percent and 9.7 percent year-on-year, respectively.
Nevertheless, the sector has expanded 1.9 percent quarter-to-quarter seasonally adjusted and seemed on track to make a positive contribution to third quarter GDP.
- African News Agency (ANA)