Wed, 11 Sep 2013 12:48:03 GMT
Manufacturing sector expands in South Africa
The manufacturing industry in South Africa surged 5.4% in July of this year, while the factory output added 0.5%. Economists expected the output to advance 1.6%. Manufacturing progress can be explained by the shrinking exchange rate of the rand, which boosted exporters' revenues. This year the national currency of South Africa has already lost 15% against U.S. dollar.