South Africa Manufacturing Output Continues To Fall

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South Africa’s manufacturing output continued to decline in November, data from Statistics South Africa showed on Tuesday.

Manufacturing output fell 3.5 percent year-on-year in November, following an 3.4 percent decline in October.

The biggest negative contribution came mainly from petroleum, chemical products, rubber and plastic products, food and beverages, and basic iron and steel, non-ferrous metal products, metal products and machinery.

On a month-on-month basis, manufacturing output fell 1.3 percent in November, after a 3.2 percent growth in the preceding month. Economists had expected a 0.3 percent rise.

During the three months ended in November, manufacturing output gained 8.9 percent, after a 17.4 percent increase in the preceding period.

The material has been provided by InstaForex Company – www.instaforex.com

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