Manufacturing records contraction in overall output for August

Statistics South Africa reports that the country’s manufacturing production decreased by 1.2% year-on-year in August, with the largest negative contributors having been motor vehicles, parts and accessories, as well as basic iron and steel, nonferrous metal products, metal products and machinery. Motor vehicles recorded a 16.1% contraction in output, contributing -1.6 percentage points to the headline figure, while basic iron and steel contracted by 5.4% and contributed -1.2 percentage points.