RTTNews - Wednesday, the Statistics South Africa said that the volume of manufacturing production declined 21.6% year-over-year in April, after falling 11.8% in March. Economists had expected a decline of 18.6%. A year earlier, manufacturing production was up 11.1%.
On a monthly basis, manufacturing production dropped a seasonally adjusted 2.5% in April. Economists were looking for a decline of 0.3%.
For the January to April period, manufacturing production decreased 15.4% compared to the same period of the previous year.
During the February to April period, manufacturing production dipped 16.2% on an annual basis and it declined 4.2% compared to the previous three months.
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