Industrial output rose 3.1% from the same month a year earlier in September, which contrasts with August’s 0.7% decline. The notable rebound in September came on the back of a pickup in manufacturing and mining production growth.
Meanwhile, the trend pointed to decline, with average annual growth in industrial production reaching a one-year low of 4.4%, down from August’s reading of 4.5%.
FocusEconomics panelists expect industrial production to increase 8.5% in fiscal 2022, 1.4 percentage points higher than the previous month’s forecast. The committee sees industrial production rising 6.1% in fiscal year 2023.