Publications
Partners
Johannesburg – Manufacturing production increased by 2.5% in January 2018, up from 1.8% in December last year, figures released by Statistics South Africa (Stats SA) showed.
According to the agency, the biggest contributors included food, beverages and petroleum. Food and beverages were up 0.2% to 0.4% and petroleum at 0.7%.
However, Stats SA also reported that the seasonally adjusted manufacturing production had decreased by 1.6% compared to December 2017.
The statistics further indicated that eight out of ten manufacturing divisions showed a positive growth within the period.
Chief economist at Nedbank, Dennis Dykes, said the improvement in the sector can be attributed to the political certainty in the country. He added that the sector can expect more growth throughout the year due to the increased role it plays globally.
* SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.
