Mining output rises 3.9% year on year; estimate 1.2% Manufacturing up 2.1%, beating forecasts for 1.7% advance
South African mining and manufacturing production rose by more than expected in October in rare positive news for an economy battling shortcomings at its state-run power and logistics utilities.
Mining production climbed 3.9% October from a year earlier after shrinking 1.9% in September. That beat forecasts for a 1.2% gain, according to the median estimate of six economists surveyed by Bloomberg. The advance was led by a 16.9% jump in production of platinum group metals.