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Market Update: South Africa Factory Activity Surges at Record Pace
Manufacturing production in South Africa surged 87.9 percent year-on-year in April of 2021, a record increase, amid low base effects from last year when production fell at a record pace due to the coronavirus pandemic. It compares with market expectations of 88.3 percent. The largest contributions came from basic iron and steel, non-ferrous metal products, metal products and machinery (163 percent); motor vehicles, parts and accessories and other transport equipment (4913 percent); food and beverages (28 percent); petroleum, chemical products, rubber and plastic products (36.2 percent); and wood and wood products, paper, publishing and printing (87.9 percent). On a monthly basis, factory output was down 1.2 percent. source: Statistics South Africa [/s2If]
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