On a seasonally-adjusted monthly basis, industrial production rose 0.4% in June (May: -0.1% mom). The rebound reflecteda recovery in intermediate and consumer goods production. On the other hand, output of capital goods moderated, while activity in the construction contracted.
Industrial output fell 0.5% year on year in working-day adjusted terms in June (May: -1.7% yoy). Meanwhile, the trend pointed down, with annual average industrial production contracting 0.3% in June (May: +0.3%).
Panelists polled by FocusEconomics expect industrial production to contract 0.2% in 2022. For 2023, the panel sees industrial production expanding 2.1%.
