August 6, 2015

In June, industrial output fell a seasonally-adjusted 1.1% over the previous month, contrasting the 0.9% increase tallied in May. June’s reading significantly undershot market expectations of a 0.3% fall and marked the lowest value in over a year. The result was driven by a fall over the previous month in the electricity, gas, steam and air conditioning supply sector as well as the manufacturing sector. Conversely, mining and quarrying contracted at a softer rate than last month.



On an annual basis, industrial production fell a working-day adjusted 0.3% in June, contrasting the 3.1% increase tallied in May. As a consequence, annual average growth in industrial output inched down from May’s minus 0.4% to minus 0.5% in June.

FocusEconomics Consensus Forecast panelists see industrial production increasing 0.3% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, panelists expect industrial output to pick up the pace and expand 1.5%.