Rebounded in January on a broad-based expansion led by manufacturing
Industrial Production Index (IPI) rebounded sharply in January (4.3% YoY; Dec: -0.1%), beating expectations (KIBB: 2.0%; consensus: 2.0%)
- The positive performance at the start of 2024 was attributable to a broad-based expansion across all sectors led by improved manufacturing conditions, amid a strong domestic-oriented sub-sector and a recovery in the export-oriented sub-sector.
- MoM (2.0%; Dec: -1.3%): rebounded to a five-month high following two straight months of contraction.
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