Tuesday, the Statistics South Africa announced that the volume of manufacturing production dropped 11.7% year-over-year in March, compared with a 15.1% fall in February, revised from 15% drop estimated initially. Economists were looking a decline of 12.3%.
Month-on-month, manufacturing production declined a seasonally adjusted 0.1% in March.
On a sequential basis, manufacturing production declined a seasonally adjusted 6.8% in the first quarter.
For the January to March period, manufacturing production dipped 13.3% compared to the same period of the previous year.
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