Seifsa warns of bleak year ahead for metals and engineering sector
Headwinds include power cuts, inflation and slower global demand
16 February 2023 - 18:47
SA’s metals and engineering (M&E) sector, which is used as a measure of the overall economy’s performance, is expected to contract 2.2% in 2023, the latest Steel and Engineering Industries Federation of Southern Africa’s (Seifsa’s) annual report warns.
According to the “State of the Metals and Engineering Sector Report 2023”, presented by the industry body on Thursday, the decline comes as the sector grapples with a toxic combination of load-shedding, dismal service delivery and a depressed global economic environment...
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