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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
The performance of the South African manufacturing sector has remained dismal after an initial recovery from the economic recession in 2008/09. This short comment unpacks the most recent manufacturing output data and delves into some of the underlying reasons why, despite an apparent alleviation of supply-side constraints through last year, manufacturing output has continued to disappoint.
