Recession strains factories and consumers

摘要

South Africa's manufacturing output shrank for the second consecutive month in November, highlighting the strain on factories and consumers, and hardening the case for aggressive interest rate cuts this year, reports Reuters.rnStatistics SA says that manufacturing output fell by 4,4% year on year, adding to an downwardly revised 1,8% dip in October.rnCompared with October, production in volume terms contracted by a seasonally-adjusted three percent.rnGrowth in Africa's biggest economy is slowing, knocked by the global economic downturn and relatively high interest rates that have cut into consumer spending.