Manufacturing output down 0.4%, misses estimates

(iStock)
(iStock)

Johannesburg - The manufacturing output expanded to 0.4% year-on-year in July. This is well below the expected output after rising by a revised 4.7% in June, according to Statistics South Africa.

The slight rise in output was due to higher production in the petroleum, chemical products, rubber products and plastic products division; 8.1% and contributing 1.8 percentage points.

On a month-to-month basis, factory production increased was down 1.5%, but rose 1.7% in the three months to July compared with the previous three months.

A Reuters poll of economists had expected the headline figure to show manufacturing grew by 3%.

Seasonally adjusted manufacturing production increased by 1.7% in the three months ended in July 2016, compared with June 2016. This followed month-to-month changes of 0.7% in June 2016 and 1.4% in May 2016.

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