Industrial growth accelerates

According to the preliminary data, industrial output was up 5.9 percent on an annual basis in February, a growth rate well above both the the yearly average rate in 2018 and the pace registered in this January. Compared to the previous month, industrial output grew by 1 percent.

The CSO flash report states that the automotive and the electronic sectors spearheaded the acceleration of industrial growth. So far, the facts seem to support our expectation regarding the rebound of automotive production growth in 2019.

The first months suggest not just that industrial output growth will accelerate in 2019 compared to the last year but also that the upward risks connected to our present industrial growth forecast – 4.5 percent – are becoming more substantial.

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