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Buildings completed continued to plunge in February, figures show

Buildings completed continued to plunge in February, figures show By Edward West Share CAPE TOWN - BUILDINGS completed, as measured in real terms, fell a further 40.2 percent year-on-year in February following Januaryâs -46 percent plunge, Statistics SA data showed. Completions in the non-residential sector of the market, which has been adversely affected by the pandemic, declined by -59.5 percent y/y, while residential building completions slid by -21.8 percent y/y. Investec economist Lara Hodes said yesterday in a statement that the first quarter 2021 performance thus far was in line with the results of the BERâs first quarter building survey, which saw confidence among players in the building sector move further into depressed territory.

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Rand powers up on positive retail sales

Rand powers up on positive retail sales By Siphelele Dludla Share JOHANNESBURG - THE RAND rallied against most emerging market currencies yesterday, rising 0.66 percent to R14.41 against the dollar after Februaryâs retail sales data showed rising activity. The buying power of shoppers surprised in February as retail trade sales unexpectedly rose 2.3 percent from a year earlier, scaling up from an upwardly revised 3.7 percent contraction in January better than the market expectation of a 1.9 percent slump. The rand has appreciated more than 1.10 percent against the dollar since Monday. FXTMâs Lukman Otunuga said the positive data print was likely to boost appetite for the rand, which was already experiencing a positive week.

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Mining output expected to surge further as world economy picks up

Mining output expected to surge further as world economy picks up By Dineo Faku Share JOHANNESBURG - PRECIOUS metals and minerals once gain came through for the beleaguered mining industry as output surged and was expected to lift even further in the medium term. Data from Statistics South Africa (StatsSA) yesterday showed that production improved with export values growing 5.6 percent month-on-month in February to R53.5 billion. Analysts said that the output was 33.6 percent higher than the comparable period last year, suggesting that external conditions had become favourable in line with the global economic growth recovery. StatsSA said production in the sector rose 0.8 percent year-on-year in February, ahead of expectations as iron ore output surged.

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February output down as manufacturing continues to struggle

February output down as manufacturing continues to struggle By Siphelele Dludla Share 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.

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Manufacturing production slips in February, load shedding remains a risk

Manufacturing production slips in February, load shedding remains a risk
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