Transnet strike interrupts four-month recovery streak in manufacturing output
Manufacturing production declined by 1.1% year-on-year in November after it grew by 1% in October 2022, according to Statistics South Africa.
“While the headline number is positive, the underlying picture is more mixed. Most concerning was the business activity index which deteriorated further in December," Said Investec economist Lara Hodes.Also weighing on manufacturing production was the persistent load shedding that has shaved growth in the positive third quarter GDP numbers according to the Reserve bank.
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