Output surprises in January as strong E&E momentum supports 2026 outlook
Industrial Production Index (IPI) accelerated to 5.9% YoY (Dec: 4.8%), beating expectations (KIBB: 4.9%; Bloomberg consensus: 5.0%)
- The upside surprise was driven mainly by strongerthan-expected manufacturing output, underpinned by sustained double-digit growth in the E&E segment (15.3%) for the fourth straight month.
- MoM (0.7%; Dec: 0.2%): Expanded well above the long-term average of 0.2%, signalling strong momentum during the month.
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