South Africa’s factory output growth slower than expected in Jan

By bne IntelliNews March 16, 2010
South Africasfactory output grew slower than expected in Jan, data showed, leaving room fora possible interest rate cut in March. Manufacturing is a key economic driver.Factory production rose 3.7% in Jan, falling against Decembers by 0.6%, StatsSA said. The ruling ANCs allies will probably use the weak factory data toback their calls for more rate cuts this year. National treasury expects theeconomy to expand by 2.3% this year, but unemployment of about 25% remainscritical. Head of fixed income at Investec Asset Management, Andre Roux, said afurther rate cut cannot be ruled out when the monetary policy committee meetslater this month.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335