Manufacturing production decreased by 1.1% in November 2022, compared with November 2021.
. The largest negative contributions came from food and beverages, wood and wood products, as well as petroleum and chemical products.
Economist at Econometrix Laura Campbell says manufacturing is not expected to return to pre-pandemic levels for years to come. “What we are seeing is that manufacturing is stagnating well below pre-pandemic levels with no signs of further recovery. The industry faces domestic headwinds such as now seemingly permanent load shedding, deteriorating infrastructure and globally economic growth is slowing. This is impacting negatively on export demand. Unfortunately, the broader picture will remain one of de-industrialization.”
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