Manufacturing output up in South Africa
South Africa’s manufacturing output gathered momentum in May after a slowdown in April blamed on public holidays.

Production in the key sector jumped by an unadjusted 5.1 per cent in volume terms compared with May last year, accelerating from an unrevised annual increase of 0.1 per cent in April, Statistics South Africa said.
Manufacturing accounts for more than 16 per cent of Africa’s biggest economy and is expected to benefit from the weaker rand currency, which during the past few years undermined the competitiveness of domestic exports with its sustained strength. The data showed volumes rose by 2 per cent from April levels, on a seasonally adjusted basis. But in the three months to the end of May, they were unchanged versus the previous quarter, also seasonally adjusted.

900 units closed
China’s Guangdong province has ordered the closure of more than 900 factories for failing to comply with new rules on producing dangerous chemicals.
Under national rules issued in December, 2,040 factories in southern Guangdong that produced dangerous chemicals had until the end of that month to apply for safety production certificates, Hong Kong’s Economic and Trade office in Guangdong said. About 1,100 factories would have obtained the required certificate by a June 30 deadline, it said. “The remaining 900 factories would be required to cease operation after the deadline,” it said.

New LCD plant in China
Flat-screen maker LG.Philips LCD has entered a preliminary agreement to build a new LCD module plant in Guangzhou, China, betting on the world’s growing appetite for sleek televisions.
LG.Philips, the world’s biggest maker of large-sized LCD in 2005, did not specify the size of the investment or the timing for the new China plant.
Analysts have been forecasting makers of liquid crystal display (LCD) to post poor earnings in the second quarter amid continued drops in prices for flat screen panels, heightened competition and rising inventories. The Guangzhou plant will become the firm’s third overseas module production plant.