FX.co ★ South Africa Manufacturing Output Growth Weakens

South Africa's manufacturing output growth weakened in July, Statistics South Africa reported Monday.

Manufacturing production advanced 2.3 percent year-on-year in July, following June's 5.9 percent increase and 2.5 percent rise in May.

The annual increase was driven by the 6.8 percent rise in the production of petroleum, chemical products, rubber and plastic products and the 9.5 percent rise in motor vehicles and other transport equipment output.

On a monthly basis, manufacturing output posted a 1.6 percent drop, in contrast to the 1.2 percent increase seen a month ago.

During three months to July, manufacturing production moved up 0.9 percent after rising 2.3 percent in three months to June, data showed.