September 28, 2015

In July, industrial output rose a seasonally-adjusted 0.7% over the previous month. The result marked an improvement over June’s revised 0.3% increase (previously reported: +0.5% month-on-month) and marked a six-month high. July’s figure was driven by an improvement in the manufacturing sector along with electricity, steam and gas.



Compared to the same month of the previous year, industrial production expanded a working-day adjusted 1.3% in July, which contrasted June’s revised 0.7% decrease (previously reported: -0.1% year-on-year). Annual average growth in industrial production inched up from June’s minus 0.7% to minus 0.5% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.5% this year, which is unchanged from last month’s forecast. For 2016, participants expect growth in industrial production to pick up 2.3%.