Newly released data from Statistics South Africa shows that manufacturing production fell by 6.4% in March compared to the same month last year.
Motor vehicles, parts, accessories and other transport equipment as well as basic iron and steel are among the contributors to the decline.
March was the last month in which the country endured persistent rolling blackouts.
Economist Azar Jammine says, “Besides load shedding, I think statistical factors played a very big role in depressing the March figures. The fact is that the Easter long weekend fell into March this year as compared with April last year, so there was disruption to at least one or two days. Secondly, the Human Rights Day public holiday was on a Thursday, so that encouraged people to convert that weekend into a long weekend as well.”
#Manufacturing production decreased by 6,4% y/y in March 2024, led by declines in motor vehicles, parts & accessories and metals & machinery.
Listen here for more: https://t.co/6h7BLn7LKR#StatsSA pic.twitter.com/76Lv0BOeLj
— Stats SA (@StatsSA) May 10, 2024
