Stats SA data shows mining production decreased by 3.3% year-on-year in January as pressure on the sector continues. The negative contributors were in iron ore, gold, diamonds and coal.
The largest positive contributor was the Platinum Group Metals.
#Gold production recorded its worst month since current records began (in 1980) registering a production index of 58,1 for January 2019.#Mining production fell by 3,3% y/y in January 2019.
Listen here for more: https://t.co/ZgPASEopXg#StatsSA pic.twitter.com/jTmphueuAI— Stats SA (@StatsSA) March 14, 2019
The mining sector has endured challenges with policy certainty impacting on investments. The sector also faces subdued commodity prices on the back on weak international trade and the on-going global trade tensions. The high electricity tariffs and disruptions in power supply pose another challenge for the sector.
South African #electricity generation decreased by 2,1% y/y in January 2019. Generation fell by 0,8% in January 2019 compared with December 2018 #StatsSA https://t.co/u5DEFHWGcX pic.twitter.com/WZ2EeQKPak
— Stats SA (@StatsSA) March 7, 2019
Manufacturing production has shown slight improvement in January, but below markets expectations.
Data from Stats SA shows manufacturing production increased by 0.3% in January 2019 when compared with January 2018. Economists had expected an increase to 1.2% year on year.
Manufacturing production is up from a revised flat reading of 0% year on year in December 2018.
Transport, #agriculture & #manufacturing industries recorded the biggest growth in Q4:2018 as the SA economy grew of 1,4% during the quarter. Tune in to @CapricornFM as #StatsSA’s Joe de Beer takes a closer look at the figures from 19:15 tonight https://t.co/j0i2ebTq7t #GDP pic.twitter.com/WrnpxCqIbE
— Stats SA (@StatsSA) March 5, 2019
The largest positive contributions were made by the food and beverages as well as petroleum and chemical products. The largest negative contribution was made by the basic iron and steel, metal products and machinery division.
Positive growth in the #food & drink division helped keep SA #manufacturing afloat in January 2019. Overall production was up by 0,3% y/y. Iron & steel production was the biggest drag on overall growth, down by 3,2% y/y.
Listen here for more: https://t.co/kzXgb4UNH8 #StatsSA pic.twitter.com/mQ98VCwLam— Stats SA (@StatsSA) March 14, 2019
On a month-on-month basis, factory production contracted by 2% in January. The sector suffers low demand as a result of the weak economy. High input costs as a result of higher electricity tariffs and interrupted power supply also weigh on the sector.
Government finances: surplus, deficit and debt. Here is a look at government spending over 13 years, focusing on how much we pay to service our debt. Read more here: https://t.co/OPf4LQOcjA #StatsSA pic.twitter.com/5EJ3zxY9L6
— Stats SA (@StatsSA) March 14, 2019
