Production in gold mining sector declined 17.4% year-on-year: Stats SA

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Statistics South Africa has released the mining sector’s production data for August, with production in the gold mining sector declining by 17.4% year-on-year, compared with a revised decline of 19.1% in July.

Production in the platinum group metals sector declined by 12.9%, while total mining output declined by 5.9% year-on-year in August, compared with a revised decline of 8.3% in July.

On Wednesday, Stats SA announced that motor vehicle parts, accessories and other transport equipment made the biggest positive impact on August manufacturing numbers.

Stats SA says manufacturing production increased by 1.4% in August 2022 compared with August 2021.

However, the manufacturing production of food and beverages declined during the same period.

Seasonally adjusted manufacturing production decreased by 2.9% in the three months ended August 2022 compared with the previous three months.

Six of the ten manufacturing divisions reported negative growth rates over this period.

The video below is reporting on the drop in mining and industrial output: