Manufacturing set for positive annual growth in 2023

BUSINESS

The fragile manufacturing sector is expected to show slight growth in 2023 following last year's 0.3% decline. Between January and August the sector has grown by 0.5% despite domestic challenges of load shedding costs, weaker demand, and global trade.

In August, the sector grew 1.6% year-on-year, slower than the 2.2% expansion in July. On a monthly basis, seasonally adjusted output expanded by 0.5%, below the 1.7% monthly slip in July.