S. Africa June Manufacturing Output Drops

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Tuesday, the Statistics South Africa announced that the manufacturing production decreased 17.1% year-over-year in June, compared to the 17.2% fall in the previous month. Economists were looking for a decline of 16.8%. A year earlier, the production was up 5.7%.

On a monthly basis, manufacturing production decreased 0.1% in June. Economists had expected a decline of 0.5%.

In the second quarter, manufacturing production decreased 3% compared to the previous quarter and it was down 18.7% over a year ago.

For the January to June period, manufacturing production declined 16.1% compared to the same period of the previous year.

Tuesday, the Statistics South Africa announced that the manufacturing production decreased 17.1% year-over-year in June, compared to the 17.2% fall in the previous month. Economists were looking for a decline of 16.8%. A year earlier, the production was up 5.7%. (Market News Provided by RTTNews)