Business In The News South Africa

Mining and manufacturing production decline in June

JOHANNESBURG, August 10 – Manufacturing production declined by 2.3 percent while mining production decreased by 0.8 percent year-on-year in June compared with the same period last year, Statistics South Africa (StatsSA) said on Thursday.
StatsSA said the largest negative contributions to manufacturing were reported in petroleum, chemical products, rubber and plastic products and wood and wood products, paper, publishing and printing.
Food and beverages, as well as basic iron and steel, non-ferrous metal products, metal products and machinery made the largest positive contributions to production.
However, seasonally adjusted manufacturing production was flat in June compared with May. This followed month-on-month changes of -0.3 percent in May and 2.2 percent in April.
Meanwhile, in the mining sector StatsSA said platinum group metals was the largest negative contributor, contributing -3.0 percentage points.
Diamonds, on the other hand, was a significant positive contributor.
Seasonally adjusted mining production decreased by 2.6 percent in June compared with May. This followed month-on-month changes of 0.1 percent in May and -2.0 percent in April.
Mineral sales also decreased by 5.9 percent year-on-year in May. The largest negative contributors were platinum group metals, gold, and iron ore.
Coal and chromium ore were significant positive contributors.
Seasonally adjusted mineral sales at current prices increased by 1.4 percent in May compared with April. This followed month-on-month changes of -2.1 percent in April and 2.1 percent in March.


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