South African factory output drops 2.8 percent in February
South Africa's manufacturing output declined by 2.8 percent year-on-year in February. Factory production also fell 2.2 percent on a month-on-month basis.
Manufacturing activity in South Africa experienced a significant contraction in February, according to the latest data released by the national statistics agency on Thursday. The sector's output fell by 2.8% on a year-on-year basis, marking a deepening decline compared to the previous month. This performance follows a revised 0.1% year-on-year decrease in January, indicating a persistent downward trend in industrial production. On a month-on-month basis, factory output decreased by 2.2% in February. This monthly drop represents a sharp reversal from January, which saw a revised increase of 1.9%. The data highlights ongoing challenges within the manufacturing sector as it struggles to maintain momentum. The figures provided by the statistics agency underscore the volatility in production levels across the country's industrial landscape.
