{"id":703371,"date":"2023-07-11T17:06:40","date_gmt":"2023-07-11T15:06:40","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=703371"},"modified":"2023-07-11T17:06:53","modified_gmt":"2023-07-11T15:06:53","slug":"one-of-south-africas-most-important-industries-hits-a-speed-bump","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/703371\/one-of-south-africas-most-important-industries-hits-a-speed-bump\/","title":{"rendered":"One of South Africa&#8217;s most important industries hits a speed bump"},"content":{"rendered":"\n<p>One of South Africa&#8217;s most important sectors, manufacturing, recorded a drop in production and sales in May. <\/p>\n\n\n\n<p>Last month, Stats SA said that South Africa&#8217;s GDP grew by 0.4% in Q1 2023, and manufacturing was the main driver of growth, with output jumping by 1.5% &#8211; adding 0.2% to overall GDP growth.<\/p>\n\n\n\n<p>Year-on-year, manufacturing production jumped by 2.5% in May 2023 compared to May 2022. <\/p>\n\n\n\n<p>The largest contributions were made by the following divisions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Motor vehicles, parts and accessories and other transport equipment&nbsp;(15,1% and contributing 1,4 percentage points) <\/li>\n\n\n\n<li>Basic iron and steel, non-ferrous metal products, metal products and machinery&nbsp;(5,8% and contributing 1,2 percentage points)<\/li>\n<\/ul>\n\n\n\n<p>Seasonally adjusted manufacturing production did, however, decrease by 1.3% from April 2023 to May 2023.<\/p>\n\n\n\n<p>Before this, March recorded month-on-month growth of 3.8%, whilst April recorded growth of 0.7%. <\/p>\n\n\n\n<p>That being said, seasonally adjusted manufacturing production jumped by 2.8% in the three months ended May 2023 compared to the prior three months. <\/p>\n\n\n\n<p>During this period, seven of the ten manufacturing divisions reported positive growth. <\/p>\n\n\n\n<p>The main contributors were: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Petroleum, chemical products, rubber and plastic products&nbsp;(6,9% and contributing 1,4 percentage points) <\/li>\n\n\n\n<li>Basic iron and steel, non-ferrous metal products, metal products and machinery&nbsp;(4,6% and contributing 0,9 of a percentage point<\/li>\n<\/ul>\n\n\n\n<p>Key growth rates in the volume of manufacturing production can be found below:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1-.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"270\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1--1024x270.jpg\" alt=\"\" class=\"wp-image-703379\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1--1024x270.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1--300x79.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1--768x203.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-1-.jpg 1414w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Another sales drop <\/strong><\/p>\n\n\n\n<p>However, manufacturing sales dropped by 2.7% in May 2023 compared to April 2023. <\/p>\n\n\n\n<p>This follows a month-on-month drop of 0.5% in April 2023. <\/p>\n\n\n\n<p>March boasted a month-on-month 3.9% increase in sales, meaning that seasonally adjusted manufacturing sales grew by 3,8% in the three months ended May 2023 compared with the prior three months.\u00a0 <\/p>\n\n\n\n<p>The largest contributions were made from the following divisions<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>food and beverages&nbsp;(6,8% and contributing 1,6 percentage points)<\/li>\n\n\n\n<li>petroleum, chemical products, rubber and plastic products&nbsp;(4,9% and contributing 1,0 percentage point).<\/li>\n<\/ul>\n\n\n\n<p>Key growth rates in manufacturing sales at current prices can be seen below:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"262\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2-1024x262.jpg\" alt=\"\" class=\"wp-image-703381\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2-1024x262.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2-300x77.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2-768x196.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/stats-sa-may-manufacturing-2.jpg 1396w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read: <a rel=\"noreferrer noopener\" href=\"https:\/\/businesstech.co.za\/news\/finance\/703165\/consumers-in-south-africa-are-shifting-their-shopping-habits-to-deal-with-rising-prices-heres-what-changed\/\" target=\"_blank\">Consumers in South Africa are shifting their shopping habits to deal with rising prices \u2013 here\u2019s what changed<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Africa has recorded a slight drop in production and sales in one of its most important sectors. <\/p>\n","protected":false},"author":95,"featured_media":703383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,1809],"class_list":["post-703371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-stats-sa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/703371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=703371"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/703371\/revisions"}],"predecessor-version":[{"id":703393,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/703371\/revisions\/703393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/703383"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=703371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=703371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=703371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}