• BEE winners and losers

    Creating real change and real jobs requires a new ideology, says Gerhard Papenfus.

  • Governance matters

    Addressing risk well and timeously can be a source of growth, says Ian Mann.

  • Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

See More

Manufacturing output climbs 2%

Feb 07 2013 13:51 Reuters

Related Articles

British manufacturing output slumps

Mining, manufacturing lose 15 000 jobs

SA manufacturing up 3.4% in November

Manufacturing confidence improves

China manufacturing grows in November

Manufacturing sector in a crisis


Johannesburg - South Africa's manufacturing output undershot market expectations in December, growing 2.0% year-on-year in volume terms, compared with a revised 3.7% in November, Statistics South Africa said on Thursday.

Economists had forecast 2.8% growth in factory output.

On a month-on-month basis production fell by a seasonally adjusted 2.2% but grew 1.6% in the three months to December compared with the previous quarter.

Peter Attard Montalto, economist at Nomura said, "This piece of data shows the drag on the economy from exports and a lack of domestic private sector investments into year end, though with more underlying buoyancy than expected into the end of the year.

"We still expect more impact from the second round effects of mining unrest to come through in the first quarter.

"This is one of the last fourth quarter data prints and our tracking model puts fourth quarter GDP currently at around 2.1% year-on-year, down from 2.3% previously after this data."

The rand was steady at R8.8890 against the dollar at 11:11 GMT.

Government bonds were also unchanged with the yield on the 2015 issue at 5.31% and that on the 2026 issue at 7.315%.

The manufacturing sector contributes about 15% of gross domestic product and is key for creating employment in an economy with an official jobless rate of a quarter of the labour force. 

Manufacturing output increased by 2.6% in 2011, only half of the expansion seen in 2010.

South Africa plans to spend R5.8bn over the next three years to help manufacturers affected by the global economic downturn upgrade their factories, improve products and train workers.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

manufacturing output  |  sa economy


Vavi vows to fight on

2015-03-31 11:27


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote