Textile And Garment Manufacturing Industry In South Africa Declined 8.5%

According to the data released by StatisticsSA, the output of manufacturing industry increased by 0.6% in May 2011 compared with the same month last year, although it was 0.2% better than that of the previous month, but it is not as 2.4% as that of the private sector.

Month by month, output is 0.4% smaller than that of the previous month, which is also lower than that of the previous month. Non-governmental organizations 1.4% of the estimate. In terms of cumulative performance, output from January to May increased by 2.7% over the same period last year.

In terms of major industries, household appliances and Telecommunications (8.1%), basic metal manufacturing (5.9%), petrochemical rubber (3.1%) and motor equipment (2.3%) are still growing.

　　 Textiles and garments (-8.5%), food and beverage category (-4.2%), automobile and parts category (-3.4%), furniture manufacturing (-0.7%), wood paper making (-0.5%) and glass nonmetal (-0.4%) declined.

AbsaCapital economist JeffreySchultz pointed out that statistics show that the recovery of South Africa's manufacturing industry has been weak, and the recent strikes are frequent. We should take a conservative view of the third quarter's overall output. Economic growth rate 。 In the short term, the Reserve Bank of South Africa should not rush to raise interest rates.