STATS SA DATA
Factory slump shows long road to recovery
Manufacturing production fell 10.8% in August from the year before, Stats SA data shows
A 15th consecutive decline in annual manufacturing production in August underscored the long road ahead for a sector that accounts for 11% of the economy as it works to fully recover from the Covid-19 crisis.
The data came ahead of Thursday’s announcement of President Cyril Ramaphosa’s economic recovery plan, which economists hope will contain concrete plans to help revive industries battling headwinds such as power shortages.