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Manufacturing output up 2.6% in November
South Africa’s manufacturing output grew by 2.6% year-on-year in November, after a 1.2% year-on-year expansion in October, Statistics South Africa (Stats SA) reported on Thursday.
The improvement was mainly attributable to the basic iron and steel, nonferrous metal products, metal products and machinery division increasing production by 4.6%, the glass and nonmetallic mineral products division increasing production by 12.7% and the petroleum, chemicals products, rubber and plastic products division increasing production by 0.4%.
However, production in the motor vehicles, parts and accessories and other transport equipment division shrunk by -12.6% year-on-year.
The Nedbank Economic Unit said that the latest manufacturing statistics confirmed that the production side of the economy remained subdued.
“Conditions would probably deteriorate in early 2012 as weak demand conditions in the eurozone undermine local exports and production, with negative implications for capital expenditure and job security,” it said in a statement.
The Nedbank unit said that the pace of domestic spending and capital expenditure was likely to slow, hurting those industries supplying the consumer market and providing inputs into expansionary projects.
Stats SA reported that the seasonally adjusted manufacturing production for the three months ended November 2011 increased by 2%, when compared with the previous three months ended August 2011. Six of the ten manufacturing divisions reported positive growth rates over this period.
The increase was driven by higher production recorded for the basic iron and steel, nonferrous metal products, metal products and machinery division of 6.8% and the glass and nonmetallic mineral products division increasing production with 4%.
However, these increases were partially counteracted by decreases in production reported by the motor vehicles, parts and accessories and other transport equipment division of -4.9%, production in the furniture and other manufacturing division declining with -4.8% and production in the petroleum, chemicals products, rubber and plastic products division declining with -0.9%.
Further, Stats SA said that seasonally adjusted sales of manufactured products at current prices, for the three months ended November 2011 increased by 5.8% to R19.76-billion, when compared with the previous three months ended August 2011.
Nine of the ten manufacturing divisions reported positive growth rates over this period.
The five manufacturing divisions that were mainly responsible for the increase in total manufacturing sales were the basic iron and steel, nonferrous metal products, metal products and machinery division (9%), the petroleum, chemical products, rubber and plastic products division (7.5%), the food and beverages division (5.7%), the wood and wood products, paper, publishing and printing division (7.4%) and the electrical machinery division (11.7%).
Source - EngineeringNews
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