Press Release - 2015/11/11: METALS AND ENGINEERING SECTOR CONTINUES TO CONTRACT
JOHANNESBURG, 11 NOVEMBER 2015 – The September production data for the metals and engineering (M&E) sector released by Statistics South Africa indicate that the contraction in the sector continues to worsen, despite some recent positive signs, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) said today.
The recorded year-to-date (9 months) decline was 1,5% and 2% for the previous 12 months to September. Production in September 2015 was 3,3% lower than in the same month in 2014.
Press Release - 2015/11/09: SOUTH AFRICAN ECONOMY ON THE VERGE OF A RECESSION
SOUTH AFRICAN ECONOMY ON THE VERGE OF A RECESSION JOHANNESBURG, 9 NOVEMBER 2015 – Manufacturing capacity utilisation, an important indicator of potential economic growth, has on average been below the 85% optimum since the first quarter of 2008 (average – 4%).
Press Release - 2015/10/22: MEASURES TO STIMULATE THE ECONOMY UNLIKELY TO ACHIEVE THEIR OBJECTIVES
JOHANNESBURG, 21 OCTOBER 2015 – The measures announced by Finance Minister Nhlanhla Nene in his medium-term budget policy statement this afternoon were not convincing and are unlikely to achieve their stated objectives, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) said today.
Commenting on the mid-term budget policy statement, SEIFSA Chief Economist Henk Langenhoven said Mr Nene’s response to the national and international economic challenge – to make broad structural reforms, implement fiscal policy measures and rapidly implement the National Development Plan – were unlikely to succeed. This would leave South Africa squarely under the spotlight of international ratings agencies.
Press Release - 2015/10/21: INNOVATION KEY TO REVIVING SOUTH AFRICA’S MANUFACTURING SECTOR
JOHANNESBURG, 20 OCTOBER 2015 – Innovation was crucially important for the future survival of South Africa’s manufacturing sector, the Steel and Engineering Industries Federation of Southern Africa said today.
Speaking at the Industrial Development Conference held in Sandton, SEIFSA Chief Executive Officer Kaizer Nyatsumba said innovation would ultimately be the difference between thriving manufacturers and those that are merely surviving.