It was also the fourth consecutive period of decline in industrial activity after no growth in November 2022, as output shrank further in all of the sub-indices, namely, mining & quarrying (-6.06% vs -3.15% in February), manufacturing (-8.76% vs -8.36%), electricity, gas & air-conditioning supply (-36.46% vs -9.5%), and water supply, sewerage & waste management (-7.27% vs -5.99%).
On a seasonally adjusted monthly basis, industrial production decreased by 0.8% in March.
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