PRODUCTION DATA
Manufacturers expect a strong first quarter
Companies surveyed by the Manufacturing Circle expected a further increase in the first quarter of 2018
With the improvement in the economy gaining momentum, the manufacturing industry says it is optimistic it will see a strong first quarter in 2018. Manufacturing production increased by 2.5% year on year in January 2018 compared with a year ago, after a 1.8% year-on-year increase in December 2017. Seasonally adjusted manufacturing production decreased by 1.6% in January compared with December 2017. "Sentiment is changing and there is growing optimism about the prospects of the economy. Management teams are more positive about the future," said André de Ruyter, chairman of the Manufacturing Circle. However, De Ruyter stressed that the manufacturing sector was not out of the woods yet, as SA’s unemployment levels remained staggeringly high at 27.7% and business confidence was only starting to pick up. Companies surveyed by the Manufacturing Circle expected a further increase in the first quarter of 2018, attributing this to the general sentiment that the local economy was improving. St...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.