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In December the Eastern Cape was also the strongest province among those for which barometers are compiled, he said.
The Eastern Cape Barometer rose 99% year on year in December.
This figure was mainly attributable to an 11% year-on-year rise in transport and a 7.5% increase in manufacturing. According to Schüssler the rise in manufacturing reflected the recovery in vehicle production.
The motor industry dominates the province’s economy and, in fact, the South African manufacturing industry.
If something goes wrong in the Eastern Cape, it's because of the motor industry, and if something goes right, it's thanks to the motor industry.
Motor manufacturing is naturally boosted by strong purchases – for example, 42% more cars were bought in the Eastern Cape in December than in the previous year.
In December South Africans bought 39 504 vehicles, representing a 29.6% year-on-year rise.
These sales affect the Eastern Cape because the province is the home of the Volkswagen, General Motors and Mercedes-Benz factories. The rise in South African motor sales in December was however eclipsed by the growth in vehicle exports.
In December the South African motor industry exported 22 148 units, a year-on-year increase of 35.5%. This figure clearly indicates that overseas markets are recovering.
- Sake24
For business news in Afrikaans, go to Sake24.com.
For more news on the Sake24/BoE Private Clients barometers, go to www.fin24.com/barometer.
