Manufacturing Output on the Rise

Manufacturing output grew by 1.9% year-on-year (y/y) in February after contracting by a revised 2.6% in January, according to Statistics South Africa.

On a month-on-month basis, factory production was up 1.3%, but was down 0.3% in the three months to February compared with the previous three months.

A Reuters poll of economists had expected the headline figure to show manufacturing shrinking by 2.1%, a welcome surprise that is most likely not be sustained as the key figures and outlooks for the South Africa remain subdued until #GuptaGate and #ZumaMustFall will play out.

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