Grocott's Mail
  • NEWS
    • Courts & Crime
    • Features
    • Politics
    • People
    • Health & Well-being
  • SPORT
    • News
    • Results
    • Sports Diary
    • Club Contacts
    • Columns
    • Sport Galleries
    • Sport Videos
  • OPINION
    • Election Connection
    • Makana Voices
    • Deur ‘n Gekleurde Bril
    • Newtown… Old Eyes
    • Incisive View
    • Your Say
  • ARTSLIFE
    • Cue
    • Makana Sharp!
    • Visual Art
    • Literature
    • Food & Fun
    • Festivals
    • Community Arts
    • Going Places
  • OUR TOWN
    • What’s on
    • Spiritual
    • Emergency & Well-being
    • Safety
    • Civic
    • Municipality
    • Weather
    • Properties
      • Grahamstown Properties
    • Your Town, Our Town
  • OUTSIDE
    • Enviro News
    • Gardening
    • Farming
    • Science
    • Conservation
    • Motoring
    • Pets/Animals
  • ECONOMIX
    • Business News
    • Entrepreneurship
    • Personal Finance
  • EDUCATION
    • Education NEWS
    • Education OUR TOWN
    • Education INFO
  • Covid-19
  • EDITORIAL
  • Cue Media
    • Cue online
    • Cue Archives
Facebook Twitter Instagram
Trending
  • Mahala on decks
  • “Vuk’ uzenzele, there’s always something to do”
  • “We did not mess up the infrastructure in this town,” says Makana mayor 
  • Distinguished Alumni inspire with uplifting acceptance speeches
  • Psychology student unboxes gender norms by winning Sports Star of the Year for 2023
  • GM Direct publishing break
  • Agnew is Swallows’ player of the year in 2023
  • Placing education collaboration front and centre against the odds: Makhanda Education Summit
Facebook Twitter Instagram
Grocott's Mail
  • NEWS
    • Courts & Crime
    • Features
    • Politics
    • People
    • Health & Well-being
  • SPORT
    • News
    • Results
    • Sports Diary
    • Club Contacts
    • Columns
    • Sport Galleries
    • Sport Videos
  • OPINION
    • Election Connection
    • Makana Voices
    • Deur ‘n Gekleurde Bril
    • Newtown… Old Eyes
    • Incisive View
    • Your Say
  • ARTSLIFE
    • Cue
    • Makana Sharp!
    • Visual Art
    • Literature
    • Food & Fun
    • Festivals
    • Community Arts
    • Going Places
  • OUR TOWN
    • What’s on
    • Spiritual
    • Emergency & Well-being
    • Safety
    • Civic
    • Municipality
    • Weather
    • Properties
      • Grahamstown Properties
    • Your Town, Our Town
  • OUTSIDE
    • Enviro News
    • Gardening
    • Farming
    • Science
    • Conservation
    • Motoring
    • Pets/Animals
  • ECONOMIX
    • Business News
    • Entrepreneurship
    • Personal Finance
  • EDUCATION
    • Education NEWS
    • Education OUR TOWN
    • Education INFO
  • Covid-19
  • EDITORIAL
  • Cue Media
    • Cue online
    • Cue Archives
Grocott's Mail
You are at:Home»ECONOMIX»Business News»May data confirms manufacturing recovery
Business News

May data confirms manufacturing recovery

Helmo PreussBy Helmo PreussJuly 11, 2017Updated:July 11, 2017No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email

By Helmo Preuss

After three consecutive quarters in which manufacturing production acted as a drag on gross domestic product (GDP) growth, the May 2017 data released by Statistics South Africa (Stats SA) showed that a recovery was under way in the second quarter.

Economists have been worried that manufacturing production would continue to disappoint and on a year ago basis, manufacturing production is down 1.6% in the first five months of 2017. In South Africa however we follow the American and European practice of focusing on the quarterly change, rather than the year ago change, which is used by most African and Asian countries. Stats SA reports both measures, but the media focus is on the quarterly change, as that is what equity dealers, who are schooled in American valuation methodology, look at.

On the quarterly change front, the average of the second quarter so far is that manufacturing production grew by 6.7% on a seasonally adjusted annualised rate (saar) after contracting by 3.0% in the first quarter. The June data must still be released and there could be revisions to the April and May data, so the 6.7% increase for the second quarter is not cast in stone. The manufacturing purchasing managers index (PMI) survey indicated a drop in June compared with May, but there is no one-to-one relationship between the PMI and the Stats SA manufacturing data. For instance, the April PMI showed a sharp monthly drop after the late March cabinet reshuffle, while the Stats SA April manufacturing data reflected a strong monthly increase.

The June manufacturing production data will be released on 10 August and the second quarter GDP data on 5 September.

Previous ArticlePolicy uncertainty rose in the second quarter, but still below Nenegate
Next Article Tractor sales jump by 24% y/y in June
Helmo Preuss
  • Website

Comments are closed.

Tweets by Grocotts
Newsletter



Listen

The Rhodes University Community Engagement Division has launched Engagement in Action, a new podcast which aims to bring to life some of the many ways in which the University interacts with communities around it. Check it out below.

Humans of Makhanda

Humans of Makhanda

Weather    |     About     |     Advertise     |     Subscribe     |     Contact     |     Support Grocott’s Mail

© 2023 Maintained by School of Journalism & Media Studies.

Type above and press Enter to search. Press Esc to cancel.