By Schalk Burger.
Statistics agency Statistics South Africa (Stats SA) has revealed that manufacturing production increased by 0.8% year-on-year in October.
The largest positive contributions came from petroleum, chemical products, rubber and plastic products increasing 4.5% and contributing 0.9 percentage points, and food and beverages increasing 2.9% and contributing 0.7 percentage points.
Additionally, basic iron and steel, nonferrous metal products, metal products and machinery increased by 2.7% year-on-year and contributed 0.6 percentage points.
The largest negative contribution was made by the motor vehicles, parts and accessories and other transport equipment division, which declined by 16.6%, and contributed 1.7 percentage points to the decrease in the total manufacturing production.
Further, seasonally adjusted manufacturing production increased by 0.4% in October 2024 compared with September 2024. This followed month-on-month changes of a decrease of 0.2% in September 2024 and a decrease of 0.9% in August 2024, Stats SA said.
Seasonally adjusted manufacturing production increased by 0.3% in the three months ended October 2024 compared with the previous three months. Five of the ten manufacturing divisions reported positive growth rates over this period.
The largest positive contributions were reported for the basic iron and steel, non-ferrous metal products, metal products and machinery division, which increased by 3.3% and contributing 0.7 of a percentage point, and the furniture and other manufacturing division, which increased 10.2% and contributed 0.4 of a percentage point.
The largest negative contributions for the three months to end October were reported for the food and beverages division, which declined by 2% and contributed a decline of 0.5 of a percentage point, and the motor vehicles, parts and accessories and other transport equipment division, which decreased by 4.3% and contributing a decline of 0.4 of a percentage point.
Meanwhile, seasonally adjusted manufacturing sales increased by 2.3% in October compared with September. This followed month-on-month changes of a decline of 1.1% in September and a decline of 2.6% in August.
Similarly, seasonally adjusted manufacturing sales decreased by 1.2% in the three months ended October compared with the previous three months.
The largest negative contribution was made by the motor vehicles, parts and accessories and other transport equipment division declining by 8% and contributing a decline of 1.3 percentage points for the three months.