Industrial output increased 4.7% year on year in April (March: +4.2% yoy), according to a preliminary estimate.
On a seasonally-adjusted monthly basis, industrial production fell at a more pronounced rate of 1.6% in April (March: -0.2% mom), the worst result since August 2021. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 7.7%, down from March’s 12.2% reading.
FocusEconomics Consensus Forecast panelists project industrial output to increase 6.1% in 2022, which unchanged from last month’s projection. For 2023, the panel projects industrial output to expand 4.2%.