South Africa's Manufacturing Production Climbs As Expected
(RTTNews) - South Africa's manufacturing production expanded for the fourth straight month in January, in line with expectations, preliminary figures from Statistics South Africa showed Tuesday.
Manufacturing production advanced an unadjusted 2.5 percent year-over-year in January, faster than the 1.8 percent rise in December.
The growth in January was mainly due to higher production of food and beverages, basic iron and steel, non-ferrous metal products, metal products and machinery.
On a monthly basis, industrial production dropped a seasonally adjusted 1.6 percent from December, when it increased by 1.1 percent. Meanwhile, it was expected to rise by 0.3 percent.