{"id":750102,"date":"2024-02-08T15:45:47","date_gmt":"2024-02-08T13:45:47","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=750102"},"modified":"2024-02-08T15:45:52","modified_gmt":"2024-02-08T13:45:52","slug":"more-disappointment-for-south-africas-economy","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/750102\/more-disappointment-for-south-africas-economy\/","title":{"rendered":"More disappointment for South Africa’s economy"},"content":{"rendered":"\n

South Africa’s manufacturing sector showed minimal growth in December, with it set only to have a diminutive impact on the country’s Gross Domestic Product (GDP) figure for Q4. <\/p>\n\n\n\n

StatsSA’s data showed that South African manufacturing production increased 0.7% year-on-year in December 2023 – the slowest increase in three months primarily attributed to a struggling energy sector.<\/p>\n\n\n\n

“While load shedding eased somewhat in December, the electricity supply predicament remains a significant challenge for the energy-intensive manufacturing sector and the economy as a whole,” said economist Lara Hodes from Investec. <\/p>\n\n\n\n

Additionally, quarter-on-quarter seasonally adjusted basis (the measure used to calculate GDP), manufacturing output largely fell flat at 0.1%. <\/p>\n\n\n\n

“Accordingly, it will make a negligible contribution to the quarter\u2019s overall GDP reading,” said Hodes.<\/p>\n\n\n\n

Manufacturing production in South Africa was up by a marginal 0.7% year-on-year in December 2023, which was notably below expectations of a 2.7% year-on-year lift.<\/p>\n\n\n

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Source: StatsSA<\/figcaption><\/figure><\/div>\n\n\n

The largest contributions were made by:<\/p>\n\n\n\n