Leather gives South African manufacturing sector a b - leatherbiz: Lea Leatherbiz

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Leather gives South African manufacturing sector a boost

16/06/2010

It seems South Africa has more than the World Cup to celebrate with new figures suggesting the country’s economy and manufacturing segment are getting back on track.
Although around a million jobs have been lost in the country over the last two years, the stock market is up 50% compared with a year ago. House prices are up 12% and car sales made a strong recovery.

While manufacturing output fell 18% in late 2008, it is starting to claw its way back, with the best performer in April, motor vehicles, registering a 67% increase compared with April 2009 figures. Other strong performances were seen for leathergoods (+22%), basic chemicals (+31%) and rubber products (+20%).



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