RTTNews - (Correction: The original article incorrectly said manufacturing production decreased 0.1% In June. A corrected version follows.)
Tuesday, Statistics South Africa announced that manufacturing production decreased 17.1% year-over-year in June, compared to a 17.2% drop in the previous month. Economists were looking for a decline of 16.8%. A year earlier, production was up 5.7%.
On a monthly basis, manufacturing production increased 0.1% in June. Economists had expected a decline of 0.5%.
In the second quarter, manufacturing production decreased 3% compared to the previous quarter and it was down 18.7% over a year ago.
For the January to June period, manufacturing production declined 16.1% compared to the same period of the previous year.
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