Flash Notes
April manufacturing output down by 6.3% y/y, reflecting continued challenges
Manufacturing output (not seasonally adjusted) declined sharply by 6.3% y/y in April, following a revised 1.2% contraction (previously -0.8%) in March. Seasonally adjusted output rose by 1.9% m/m, though this fell short of fully reversing the 2.5% monthly decline recorded in March.
10 June 2025
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
Flash Notes
March manufacturing output down 0.8% y/y and 2.2% m/m, weighs on GDP growth
23 April 2025
Flash Notes
Mining production slumps sharply in February, pointing to a weak 1Q25 GDP contribution
15 April 2025
Flash Notes
Manufacturing output weakness extends into February
Manufacturing output (not seasonally adjusted) declined by 3.2% y/y in February, matching the contraction recorded in January, though slightly revised from an initial estimate of a 3.3% decline.
10 April 2025
Flash Notes
4Q24 QLFS: Another positive print, but more growth is needed
The Quarterly Labour Force Survey (QLFS), a household-based employment survey (not seasonally adjusted), reflected an increase in total employment during 4Q24 by 131 669 q/q, following an increase of 293 840 in the previous quarter. The level of unemployment declined by 19 573 q/q, bringing the total number of unemployed individuals to 7 990 947.
18 February 2025
Flash Notes
November retail sales exceed expectations
After a solid 6.2% y/y in October, retail sales accelerated further to a robust 7.7% growth in November, significantly outpacing the Reuters consensus expectation for a 5.5% increase. Excluding the disruptions caused by Covid-19 and the July 2021 riots to the data, this marks the strongest print in approximately 14 years (since June 2010).
22 January 2025
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