Decrease in factory activity slowed in May
Further upward pressure on production costs could kick in if the Reserve Bank hikes interest rates quicker than expected
12 July 2022 - 13:50
UPDATED 12 July 2022 - 19:23
Manufacturing activity improved in May but remained in negative territory because of continued power outages that limited the recovery in the sector after Eskom implemented power cuts for 27 days in the month.
Stats SA on Tuesday showed manufacturing production decreased 2.3% year on year in May. This was an improvement from the sharp April decline of 7.6% downwardly revised from 7.8% year on year due to devastating floods in KwaZulu-Natal. ..
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