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Manufacturing sector producing steady returns despite poor economy

Although it bounced back from the 2009 recession, the sector's growth has slowed down to 0.1% in 2014.

Picture: freeimages.com

CAPE TOWN - Stats SA says the manufacturing industry has generated an income of more than R2 trillion despite slowing economic growth over the same period.

It released data on the performance of the manufacturing and construction sectors on Monday.

Although the manufacturing sector was able to bounce back following 2009's recession, it has progressively slowed down to 0.1% growth in 2014.

Despite this, says Stats SA's Pali Linoleate, the sector's income has increased over the same period.

Beverage producer Coke, petroleum, chemical products, rubber and plastic industries contributed the most with a combined income of more R248 billion over a three-year period. It is also the only sector in which jobs had been created between 2005 and 2014.

As an aggregate, employment has dropped in the manufacturing industry with nearly 250,000 jobs lost over the same period.