South Africa’s manufacturing performance increases by 1.7%

South African manufacturing in July 2024 showed an unexpectedly positive performance, increasing by 1.7 per cent year-on-year. This is reported by
BussinessTech.

This shows a significant recovery from the 5.5 per decline in June and exceeds analysts’ expectations, who had forecast a 0.7 per cent increase.

Food and beverages, as well as the metal industry, played a key role in the positive dynamics.

On a seasonally adjusted basis, production figures increased by 2.1 per cent in July compared to June, overall growth was just 0.5 per cent.

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iStock