The stronger rand and slower global demand led to manufacturing production growth falling to 18-month lows in October, it emerged on Wednesday.

Statistics South Africa reported that manufacturing production fell a seasonally-adjusted 4.9 percent in October compared to September.

On a year-on-year basis, growth fell 0.3 percent from 5.6 percent in September.

The manufacturing sector contributes about 16 percent to the economy's gross domestic product (GDP).

According to Business Day, the Reserve Bank may cut interest rates early next year to boost the manufacturing sector if the rand remains strong and oil prices continue to fall.

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