Industrial production rose 3.8% y/y in revised working day terms in June (May: +3.0% y/y).
On a monthly basis, factory production rose 1.2% on a seasonally adjusted basis in June, which followed a 0.4% rise in May. Meanwhile, the trend pointed to decline, with the average annual growth of industrial production reaching 3.5% in June, down from 3.7% in May.
Members of the FocusEconomics Consensus forecast committee expect industrial production to increase by 4.2% in 2022, unchanged from last month’s forecast. In 2023, the commission expects industrial production to increase by 3.8%.