Manufacturing sector exceeds expectations – StatsSA

JOHANNESBURG – Data released today by Statistics South Africa (StatsSA) showed that manufacturing production in South Africa increased 1.5% year-on-year in August of 2017, better than market expectations of a 0.05% drop.
The expansion in manufacturing output is the first expansion in factory activity after four consecutive months of declines and the strongest since November last year.
StatsSA said the expansion was supported by higher production of basic iron and steel, non-ferrous metal products, metal products and machinery.
On a monthly basis, manufacturing production inched up 0.3 percent in August, compared to a 1.5 percent rise in the previous month.
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