South Africa’s manufacturing output accelerated in April, data from Statistics South Africa showed on Thursday.
Manufacturing output grew 87.9 percent year-on-year in April, following a 5.2 percent rise in March.
The largest positive contributions came from basic iron and steel, non-ferrous metal products, metal products and machinery, motor vehicles, parts and accessories and other transport equipment, food and beverages, petroleum, chemical products, rubber and plastic products, and wood and wood products, paper, publishing and printing.
On a month-on-month basis, manufacturing output decreased 1.2 percent in April, after a 3.7 percent growth in the preceding month. Economists had expected a 0.5 percent rise.
During the three months ended in April, manufacturing output gained 0.9 percent, following a 0.4 percent rise in the preceding period.
The material has been provided by InstaForex Company – www.instaforex.com