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Johannesburg - In spite of holidays and time-off for employees to watch soccer matches during June, the Gauteng manufacturing sector performed well.
Economists.co.za economist Mike Schüssler, compiler of the Sake24 and BoE Private Clients provincial barometers, says the Gauteng barometer's manufacturing index was 8.6% up year-on-year in June.
On a monthly basis the index improved by 0.6% and on a three-monthly basis 0.7%.
Basic iron and steel products comprise the major part of Gauteng's manufacturing sector, followed by petroleum and chemical products, food and liquor, as well as motor vehicles.
The recovery in vehicle sales also benefited the province.
On Tuesday the National Association of Automobile Manufacturers said that 41 367 new vehicles had been sold countrywide in July.
According to the barometers' trading index, June vehicle sales in Gauteng climbed almost 32.8% year-on-year.
Schüssler cautioned that the poor performance of the Bureau for Economic Research and Kagiso Purchasing Managers Index (PMI), which is an indication of what is happening in the manufacturing industry, will also be felt later in Gauteng's manufacturing sector.
In the past two months the PMI was below 50 index points, indicating that the manufacturing sector had contracted.
Theo Vorster from Kagiso said that the current level of the PMI indicates that the slight slowdown in manufacturing persisted at the beginning of the third quarter.
- Sake24.com
Economists.co.za economist Mike Schüssler, compiler of the Sake24 and BoE Private Clients provincial barometers, says the Gauteng barometer's manufacturing index was 8.6% up year-on-year in June.
On a monthly basis the index improved by 0.6% and on a three-monthly basis 0.7%.
Basic iron and steel products comprise the major part of Gauteng's manufacturing sector, followed by petroleum and chemical products, food and liquor, as well as motor vehicles.
The recovery in vehicle sales also benefited the province.
On Tuesday the National Association of Automobile Manufacturers said that 41 367 new vehicles had been sold countrywide in July.
According to the barometers' trading index, June vehicle sales in Gauteng climbed almost 32.8% year-on-year.
Schüssler cautioned that the poor performance of the Bureau for Economic Research and Kagiso Purchasing Managers Index (PMI), which is an indication of what is happening in the manufacturing industry, will also be felt later in Gauteng's manufacturing sector.
In the past two months the PMI was below 50 index points, indicating that the manufacturing sector had contracted.
Theo Vorster from Kagiso said that the current level of the PMI indicates that the slight slowdown in manufacturing persisted at the beginning of the third quarter.
- Sake24.com
