Manufacturing output plunges in April as floods and power cuts pummel industries
Production slumped by 7.8% from a year earlier, far worse than expected, with the motor vehicle industry bearing the brunt
09 June 2022 - 14:35
SA’s manufacturing production plunged in April as the floods in KwaZulu-Natal and ongoing load-shedding pummeled the economy.
Output shrank 7.8% year on year, the biggest drop since an 8.8% decline in October 2021, well below economists’ consensus forecast of a 2.6% contraction...
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