Another boost for the manufacturing sector in November
Sector's production grew 1.6% in November in line with analysts’ expectations
Production from SA’s factories continued to improve in the last quarter of 2018, data from Statistics SA (Stats SA) showed on Thursday. Annual growth in manufacturing production grew 1.6% in November, in line with the Bloomberg consensus, after a higher-than-expected boost of 3% in September. The biggest growth drivers were a 5.2% rise in food and beverages; and a 6.2% uptick in motor vehicles, parts and accessories and other transport equipment. However, the basic iron and steel, nonferrous metal products, metal products and machinery division fell by 1.7%. Compared with October, manufacturing production grew 0.7% in November. Stats SA’s manufacturing production index, which was at 100 points in 2015, came to 115.8 points in November 2018, up from 113.2 points in October and 114 points in November 2017. The monthly changes in factory output measured by Stats SA usually tend to be foreshadowed by the Absa-sponsored purchasing managers’ index (PMI), which is usually published on the ...
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