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South Africa Manufacturing Production Contracts 1.1%


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South Africa’s manufacturing output declined for the first time in five months in November, though at a slower-than-expected pace, data from Statistics South Africa showed on Tuesday.

Manufacturing output fell 1.1 percent year-over-year in November, reversing a 1.0 percent rise in October. Economists had forecast a 2.3 percent drop for the month.

The negative contributions to the annual fall were largely driven by food and beverages, wood and wood products, paper, publishing and printing, petroleum, chemical products, rubber and plastic products.

Meanwhile, the largest positive contribution was made by the motor vehicles, parts and accessories and other transport equipment division.

On a monthly basis, manufacturing production rebounded 2.0 percent from October, when it decreased sharply by 6.2 percent. Meanwhile, it was expected to fall by 1.1 percent.

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