Manufacturing growth rate slows

GROWTH in manufacturing production slowed in volume terms in March‚ Statistics SA data showed yesterday.

Manufacturing production rose 0.7% year on year (y/y) in March after increasing by a revised 1.5% (1.4%) y/y in February. Manufacturing production fell 1.9% month on month.

The platinum miners' strike has negatively affected some production.

The 0.7% y/y increase in manufacturing production in March was mainly due to higher production in the divisions of basic iron and steel‚ non-ferrous metal products‚ metal products and machinery (up 4.6%) ; and wood and wood products‚ paper‚ publishing and printing (up 9.8%).

Seasonally adjusted manufacturing production fell by 1.6% in the first quarter compared with the fourth quarter of last year. Seven of the 10 divisions reported negative growth rates over this period. – BDlive