South Africa’s manufacturing output grew in December, data from Statistics South Africa showed on Thursday.
Manufacturing output rose 1.8 percent year-on-year in December, after a 4.1 percent decline in November.
The biggest positive contribution came mainly from food and beverages, motor vehicles, parts and accessories and other transport equipment, basic iron and steel, non-ferrous metal products, metal products and machinery, and wood and wood products, paper, publishing and printing.
On a month-on-month basis, manufacturing output decreased 0.1 percent in December, following a 0.6 percent decline in the preceding month. Economists had expected a 0.6 percent fall.
During the three months ended in December, manufacturing output gained 5.2 percent, after a 8.7 percent increase in the preceding period.
The material has been provided by InstaForex Company – www.instaforex.com