South Africa’s manufacturing sector output fell by 3.3% y/y in volume terms in September after edging up by 0.2% y/y in August due to a lower production in the car manufacturing industry, Statistics South Africa said. The automotive industry was affected by a strike in August and September. Its output, including the manufacturing of vehicles, fell 49.7% y/y in September after dropping 25% y/y a month earlier. On the other hand, the output of the food and beverages rose 5.1% y/y, production of wood and wood products, paper, publishing and printing went up by 5.2%, glass and non-metallic mineral products output increased by 4.4%, electrical machinery – by 6.4%.
On a seasonally adjusted monthly basis, manufacturing output fell 4.7% in September. The seasonally adjusted manufacturing production for the three months to end-September 2013 fell 2.1% compared with the previous three months with 8 of the 10 manufacturing divisions having reported negative growth rates.
The total sales of manufactured products rose 6.7% y/y to ZAR 138.17bn (EUR 10.1bn) in September, compared to 7.2% y/y increase in the previous month, Statistics South Africa said. On a seasonally adjusted basis, manufacturing sales fell by 3.6% m/m in September, but decreased by 2.1% in the three months to end-September compared with the previous quarter. Eight out of the ten manufacturing divisions reported negative growth rates over the three-month period. The August-September manufacturing sales were 9.5% higher from the same period last year.
South Africa’s state-owned power utility Eskom is exploring opportunities to support Bitcoin mining, artificial intelligence (AI) development, and data centres to help its future ... more
Nigeria’s Economic and Financial Crimes Commission (EFCC) has arrested a former CFO of the Nigerian National Petroleum Co. Ltd (NNPCL), as well as a former managing director of 125,000 barrels per ... more
A sharp fall in global gold prices, now sitting above a record-high $3,300 per ounce, could rapidly erode Ghana’s international reserves and trigger fresh economic instability, ... more