Flash Notes
Mining production decline extends into March, dragging on 1Q25 GDP growth
Mining production (not seasonally adjusted) declined again in March by 2.8% y/y after falling by 9.7% y/y (previously -9.6%) in February. This marked five successive months of annual decline. Seasonally adjusted mining output expanded by 3.5% m/m, reflecting a rebound from a 4.1% monthly decline, better than the previously recorded fall of 4.4%.
15 May 2025