In February, industrial production had declined. It is likely to fall again by 0.6% m/m and 1.8% y/y in March, according to Societe Generale. Persistent drops in gas and electric utilities due to warmer-than-usual winter are expected to result in the output to decline by 1.9%, noted Societe Generale.
Manufacturing is also expected to weigh on the headline number. It is expected to drop by 0.4%. In February, manufacturing sector had contributed positively to industrial production. Meanwhile, mining sector continues to be weak.
