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Manufacturing industry experiences continued year-on-year slump

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Stats SA has shared the manufacturing statistics for August 2020, which paint a stark picture for the manufacturing industry, with many divisions experiencing a continued slump.

Statistics South Africa (Stats SA) took to Twitter on Monday, 12 October 2020, to report on the statistics of the manufacturing industry, which saw a year-on-year decline in August 2020. The picture painted by the statistics was a stark one, indicating that the manufacturing industry is faced with continued hard times.

According to the Twitter post, “South African manufacturing output fell by 10.8 percent year-to-year in August 2020. However, the industry produced more in August 2020 compared [to] July 2020, recording a month-the-month rise of 3.6 percent.”

Despite the increase in the month-to-month statistics, the overall industry has reportedly been going through a steady downward slope. The most hardest hit is said to be the automotive industry, which is estimated to have experienced a 30.6 percent year-on-year slump.

See the post below.

Sabelo Makhubo
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