February output down as manufacturing continues to struggle
By Siphelele Dludla
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JOHANNESBURG - THE MANUFACTURING industry in South Africa continues to struggle to recover from the Covid-19 induced depression as factory output fell more than expected in February.
Data from Statistics South Africa (StatsSA) yesterday showed that manufacturing production remained in contractionary territory as it fell by 2.1 percent in February from a year ago. February followed an upwardly revised 4.2 percent slump in January and was significantly weaker than market expectations of a 0.4 percent fall.
StatsSA said output was dragged down largely by declines in petroleum and chemical products, rubber and plastic, decreasing by 8.4 percent. The food and beverages division slid by 0.7 percent in February, much slower than the 6.1 decline in January. Textiles, clothing, leather and footwear grouping experienced a marginal 0.1 percent gain.