Manufacturing Circle concerned by decline in the sector

Industry body, the Manufacturing Circle, is concerned by the 3.7% contraction in the manufacturing sector during the first quarter of the year.

“This figure is troubling, as is the disconcerting news that South Africa is now in a recession,” Manufacturing Circle executive director Philippa Rodseth said in a statement on Wednesday.

She noted that industry needed to redouble its efforts to turn the sector, as well as the broader economy, around.

Rodseth pointed out that government must provide political stability and a clear strategy to reverse the recent ratings downgrades, highlighting that labour must also be part of the dialogue.

“We urge manufacturing CEOs to join us in our dialogue with government at the forthcoming Manufacturing Indaba, which we are co-hosting on June 26 and 27 at Emperor’s Palace, in Ekurhuleni,” she added.