South Africa’s manufacturing output grew less-than-expected in January following a decline in December, figures from Statistics South Africa showed Tuesday.
Manufacturing production grew 0.8 percent year-on-year following a 2 percent decline in December. The increase was only half of the 1.6 percent growth economists had expected.
Largest positive contributions came from the metal, petroleum and chemicals, and furniture and other manufacturing industries, the agency said.
Compared to a year ago, manufacturing output dropped 0.4 percent, which was the first decline in three months. Economists had forecast a 1.5 percent gain. In December, factory production grew 0.2 percent.
The biggest negative contributions to the monthly decline emerged from petroleum and chemicals, automobiles and related equipment, food and beverages, and wood and paper industries.