SA's manufacturing sector ended 2024 on weak footing
Manufacturing activity dropped by point-four percent last year, after a sluggish growth of point-6 percent the previous year.
Manufacturing, welding, welder, factory activity. Image: Pixabay
JOHANNESBURG - The country’s manufacturing sector slumped in 2024, ending the year weaker than in 2023.
Manufacturing activity dropped by point-four percent last year, after a sluggish growth of point-6 percent the previous year.
The sector was mostly under pressure from a poorer domestic picture in part driven by a weaker automotive division.
StatsSA released the latest manufacturing data on Tuesday.
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"For the 2024 calendar year, South African manufacturing activity decreased by 0,4%. The automotive division and metals & machinery products were the largest negative contributors," said StatsSA Director of Industry Statistics, Nicolai Claassen.
Claassen said manufacturing production decreased by 1.2 % in December compared with the same month in 2023.
"Eight of the 10 manufacturing divisions recorded lower production levels, with the metals and machinery and automotive divisions the biggest drags on growth. The December 2024 data concludes the data for the fourth quarter and for the calendar year."