November manufacturing output down 0.7% y/y – FNB

Total manufacturing output (not seasonally adjusted) declined by 0.7% year-on-year in November, after declining by 8.5% year-on-year in October, reports financial services provider FNB. Senior economist Thanda Sithole explains that the slip partly reflects the unfavourable base effects of the latter part of 2020 when the manufacturing sector ramped up production.

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