Manufacturing output increases in May, year-on-year
Fri, 09 Jul 2010 11:55
South Africa’s manufacturing output grew by 7,9% year-on-year in May, although this was lower than the 8,7% year-on-year growth in April.
The Kagiso purchasing managers index (PMI), which is a key measure of manufacturing activity, has indicated a slowing down in manufacturing production in recent months.
The PMI fell back below the neutral 50-point level to 48,4 points in June, the first month below the 50-point level since October last year. The index has been on the decline since March, after having reached a high of 60,4 points in February.
The manufacturing sector had recorded its fifth consecutive month of output growth. Production had expanded for the first time in 15 months in December, growing by 3,2% year-on-year.
