South Africa: Manufacturing rebounds in October
A preliminary estimate showed the manufacturing sector rebounding in October. According to Statistics South Africa, manufacturing output grew 3.0% over the same month last year, contrasting September’s revised 0.1% fall (previously reported: +0.1% year-on-year). October’s print reflected gains in the food and beverage, textile and lumber industries. For their part, the automotive industries posted double-digit annual gains in the month.
In month-on-month terms, manufacturing output rose a seasonally-adjusted 1.1% (September: -0.8% month-on-month s.a.). Meanwhile, annual average growth in manufacturing output ticked up from 1.2% in September to 1.3%.