SOUTH AFRICA REPORTS HIGFHER MANUFACTURING OUTPUT IN JUNE

Manufacturing production increased by 4.5 per cent year-on-year in June 2016, according to the latest report from Statistics South Africa (StatsSA).

“Manufacturing production increased by 4.5 per cent in June 2016 compared with June 2015,” Stats SA said here Thursday. The jUNE increase follows a revised increase of 3.9 per cent in May.

The increase was attributable to higher production in petroleum, chemical products, rubber and plastic products as well as higher production in wood and wood products, paper, publishing and printing and food and beverages.

Seasonally adjusted manufacturing production increased by 0.7 per cent in June 2016 compared with May 2016. This followed month-on-month changes of 1.3 per cent in May 2016 and 0.6 per cent in April 2016.

Seasonally adjusted manufacturing production increased by 2.0 per cent in the second quarter of 2016 compared with the first quarter of 2016. The largest contributions to the increase were made by the following divisions:

* Petroleum, chemical products, rubber and plastic products (3.9 per cent and contributing 0.9 of a percentage point);

* Motor vehicles, parts and accessories and other transport equipment (7.2 per cent and contributing 0.5 of a percentage point); and

* Food and beverages (1.9 per cent and contributing 0.5 of a percentage point).

Economists expected the annual rate of manufacturing output is forecast to have moderated to 3.1 per cent from 4.1 per cent in May.

Source: NAM NEWS NETWORK