This marked the first increase in industrial activity after ten consecutive months of contraction and marking the strongest growth since June 2021.

Production increased significantly for manufacturing by 3.9% and output growth accelerated for mining & quarrying by 52.8%.

Meanwhile, output declined for electricity, gas, steam and air conditioning supply (-36.6%).

On a seasonally adjusted monthly basis, industrial production gained 10.7% in January, rebounding from a revised 1.8% fall in the prior month.