May output slowed sharply amid weak mining & manufacturing
Industrial Production Index (IPI) moderated sharply to 0.3% YoY (Apr: 2.7%), a 17-month low, below expectations (KIBB: 3.2%; consensus: 2.1%)
- The slowdown was due to persistent weakness in mining output and softer manufacturing growth, which outweighed the rebound in electricity production
- MoM (1.1%; Apr: -8.0%): reflecting a typical seasonal upswing following a pronounced drop in April, though recovery was modest
Download Full Content:
