South Africa: Manufacturing Growth of 5,3 Percent Disappoints
Business Day (Johannesburg)
Roy Downing and Nickolaus Bauer
12 October 2010
Johannesburg — Economists polled by Business Day have reacted negatively to the latest manufacturing figures released by Stats SA, saying they had expected higher growth in the sector.
Economists polled by Business Day have reacted negatively to the latest South African manufacturing index which great by 5,3% in August 2010. That was compared with August 2009 according to data released by Statistics South Africa.
Dawie Roodt, chief economist at the Efficient Group, told Business Day that the current figures show a slowdown in the sector, as he was expecting a “stronger showing”. “It could have been better, but there are some base reasons leading to the drop, such as a general slowdown in manufacturing elsewhere in the world,” he said.
Kamilla Golda from ETM echoed Roodt’s sentiment, saying the current data is more in line with PMI figures, indicating a softness in manufacturing. “This data highlights a [continue reading]