The manufacturing sector is the second largest contributor to South Africa's gross domestic product. About 71% of manufacturers report that prevailing conditions are somewhere between 'weak' and 'fragile' in South Africa at the moment.
The bulletin showed that the growth in sales for manufacturers increased at a slower pace in the second quarter, on the back of a downward shift in global economies coupled with slower domestic demand. Employment levels among manufacturers were also down.
Meanwhile the chairman of the Manufacturing Circle, Stewart Jennings says that local manufacturers must look to other markets in Africa to boost their businesses as the locally-made products are better than those coming from China and the logistics costs of getting them to the market are lower.
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Read The Manufacturing Circle's Quarterly Bulletin.
