South Africa’s manufacturing grew 2.9 Percent in September- Statistics South Africa

Manufacturing production increased in South Africa by 2.9% year-on-year in September, after rising by a revised 1.7 per cent in August. with the largest positive contributions made by the motor vehicles, parts and accessories and other transport equipment according to Statistics South Africa.

Factory production rose 4.9 per cent month on month in September. Although, analysts had predicted a 2.35 per cent fall in annual terms in September and for output to be flat month on month.

The largest negative contribution was made by the petroleum, chemical products, rubber and plastic products division (-9.8% and contributing -2.1 percentage points).

In recent years, the Eskom load-shedding has been cited as the major cause of the decline in the manufacturing sector and other sectors of the economy in South Africa.

However, some studies show that labour productivity has either significantly reduced or remained flat over a number of decades. According to the world bank, the South African economy continues to recover from the effects of the COVID-19 pandemic, albeit more slowly than expected, with growth estimated at 1.9% in 2022.

Source: Africanews