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.
South African #manufacturing output fell by 10,8% y/y in August 2020. However, the industry produced more in August 2020 compared with July 2020, recording a m/m rise of 3,6%.
— Stats SA (@StatsSA) October 12, 2020