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SA's October manufacturing slows

Johannesburg - South Africa's manufacturing production slowed in line with expectations in October, expanding 2.2% year-on-year from a revised 8.6% growth in September, Statistics SA said on Tuesday.

On a month-on-month basis, factory production growth slowed to 0.5%, and rose by 3.8% in the three months to October compared with the previous three months. Economists had expected a 2.0% expansion on a month-on-month basis.

The increase was mainly due to higher production of motor vehicles, parts and accessories, and other transport equipment (up 10.3%), food and beverages (2.1%) and petroleum, chemical products and rubber and plastic products (1.6%).

"Seasonally adjusted manufacturing production increased by 3.8% in the three months ended October 2014, compared with the previous three months.

"Nine of the ten manufacturing divisions reported positive growth rates over this period."

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