Industrial growth accelerates on inventory build-up, but questions remain over sustainability
Industrial Production Index (IPI) growth jumped to 8.2% YoY in April (Mar: 3.1%), beating expectations (KIBB: 3.2%; consensus: 4.5%)
- MoM (-3.4%; Mar: 9.3%): Returning to negative territory after a sharp March rebound. However, the decline was smaller than the long run average contraction of -8.1%, suggesting only mild weakness.
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