South Africa Manufacturing Production Contracts 1.7 Percent in June
South Africa's manufacturing output fell 1.7 percent year-on-year in June, though the decline was less severe than May's contraction and beat analyst expectations.
Manufacturing production in South Africa contracted by 1.7 percent year-on-year during June. While overall output remains subdued, the pace of decline slowed compared to the 4.4 percent decrease recorded in May. This result outperformed the 3.7 percent slowdown that analysts had projected for the period.
Data indicates that three out of ten manufacturing divisions reported declines in output during June. The trend suggests a relative stabilization in production levels compared to previous months, despite the continued year-on-year contraction.
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