Lower output in September on a broad-based slowdown
Industrial Production Index (IPI) slowed further to 2.3% YoY (Aug: 4.1%), lower than expectations (consensus: 3.5%; KIBB: 3.9%)
- The slower growth was mainly due to a broad-based slowdown across all sectors, chiefly led by weak mining output and a modest growth in the manufacturing output.
- On MoM, growth fell by 0.7% (Aug: 1.7%)
- 3Q24 (3.9%; 2Q24: 4.5%): moderated to a twoquarter low.
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