According to the data released by the statistics agency on Tuesday, South Africa witnessed a noteworthy increase of 2.5% in its manufacturing output during May, compared to the corresponding period of the previous year. It is worth noting that this rise follows a revised growth rate of 3.6% recorded in the preceding month of April.
Following a revised growth rate of 0.7% in April, factory production in May experienced a decline of 1.3% on a month-on-month basis. This indicates a decrease in manufacturing activity during the specified period.
In summary, the manufacturing sector in South Africa demonstrated a positive year-on-year growth of 2.5% in May, building upon the revised increase of 3.6% observed in April. However, on a month-on-month basis, factory production experienced a setback, declining by 1.3% in May following a revised growth of 0.7% in April. These contrasting trends highlight the inherent volatility and fluctuations within the manufacturing industry, underscoring the need for continued monitoring and strategic measures to ensure sustained growth and stability in South Africa’s manufacturing sector.