Factory output falls as structural constraints persist
SA’s manufacturing output has dropped in all but one of the 21 months to February 2021
Manufacturing output contracted more than expected in February, extending an almost 21-month decline in production, as structural constraints such as power shortages and lack of investment continue to weigh on SA’s pandemic-hit economy.
The country’s overall factory output decreased an annual 2.1% in February, after a revised 4.2% decline the previous month, Stats SA said in a report on Thursday. The drop in production was led by declines in the output of petroleum, chemicals, rubber, plastics, furniture and metal products and was worse than the 0.3% drop predicted by the median estimate of seven analysts polled by Bloomberg before the report. Seasonally adjusted manufacturing output decreased 1.2% in February 2021 compared with the month before...