FX.co ★ South Africa Manufacturing Output Growth Slows In February

South Africa's manufacturing output rose for the second straight month in February, albeit at a softer pace, data from Statistics South Africa showed on Monday.

Manufacturing output increased 0.2 percent annually in February, after a 2.0 percent growth in January. Economists had expected a 2.9 percent rise.

On a monthly basis, manufacturing output declined 1.1 percent in February, after a 2.0 percent rise in December.

In three months to February, manufacturing production rose 3.8 percent, following a 4.2 percent growth in the previous three months.

The annual growth was largely driven by food and beverages, and basic iron and steel, non-ferrous metal products, metal products and machinery.