1
Everything Mining Industry Country Focus How to Guide
 
Intelligence on industry and mining
 
 
Back

Albeit modest, metals sector poised for second consecutive year of growth

Off a Low Base

Has Video By:  
Creamer Media Editor
 
METALS & ENGINEERING
South Africa’s metals and engineering sector is poised for a second consecutive year of modest growth, with the Steel and Engineering Federation of Southern Africa (Seifsa) forecasting a 1.1% expansion for 2018. The sector grew by 2.7% in 2017, breaking a streak of three consecutive years of contraction. However, the recovery was unlikely to signal an end to output volatility, which had become a hallmark of the industry since the global economic crisis of 2008. In addition, Seifsa chief economist Dr Michael Ade warned that industry was still in the throes of fundamental structural change, characterised by declining investment, output and employment, as well as low capacity utilisation levels.
 
 
 
 
 

Latest content...

Register for daily alerts on news as it breaks in various key economic sectors - Click here to register