May manufacturing output up by 2,5% - Stats SA
Manufacturing output has increased by 2,5% in May for a second consecutive time, Stats SA announced on Tuesday.
Nicolai Claassen, Director of Industry Statistics, says production recorded its second consecutive month of positive year-on-year growth following its increased growth in April of 3,4%.
This is because eight of the ten manufacturing divisions recorded a rise in economic activity.
"The largest contributions were made by the motor vehicles, parts and accessories and other transport equipment (15,1% and contributing 1,4 percentage points); and basic iron and steel, non-ferrous metal products, metal products and machinery (5,8% and contributing 1,2 percentage points)," says Claasen.
He adds that manufacturing production levels decreased by 1,3% in the month of May.
"Seasonally adjusted manufacturing production decreased by 1,3% in May 2023 compared with April 2023. This followed month-on-month changes of 0,7% in April 2023 and 3,8% in March 2023."
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