Industrial production in March rebounded to positive year-on-year growth after a February dip of 0.7 percent. Analysts note that the March performance signals renewed momentum in the manufacturing sector, aligning with broader expectations for gradual recovery across key industries.
Among the components of goods production, the equipment sector led the gains with a strong 12.6 percent rise in March. Other sectors also moved higher: durable consumer goods increased by 7.1 percent, intermediate goods by 4 percent, non-durable consumer goods by 3.4 percent, and energy showed a modest 1 percent uptick. This pattern underscores a broad-based improvement, supported by ongoing demand for durable capital equipment and a steadier flow of inputs through the supply chain.
Looking at specific activity lines, the growth was most pronounced in the manufacture of electrical materials and equipment, which surged by 28.6 percent, followed closely by motor vehicles, up 25.5 percent. These segments reflect continued investment in infrastructure and transportation-related production, as well as the resilience of the automotive supply chain amid shifting consumer demand and global supply conditions.
On a year-over-year basis, some subsectors showed softer performance. The graphic arts sector experienced a noticeable decline, with production dropping by double-digit percentages, while wood and cork production fell by about 11.3 percent and the textile industry by roughly 4.9 percent. These mixed results illustrate the uneven pace of recovery across different manufacturing domains, influenced by raw material availability, global demand, and technological shifts within each industry.
When seasonally and calendar adjusted, industrial production in March rose by 4.5 percent, marking a solid expansion relative to the prior year. This improvement also translates into a 4.4 percentage point difference compared to March of the previous year, highlighting the sustained rebound in manufacturing activity. The broader context shows that the March performance aligns with a trend of gradual normalization after the earlier contraction period, supported by stabilizing energy markets and improved order books in several manufacturing subsectors.
From February to March, month-to-month production advanced by 1.5 percent, representing the biggest monthly gain since April of the previous year, when a 2.5 percent increase was recorded. The current uptick signals that manufacturers are leveraging stronger demand, improved supply chain efficiency, and capacity utilization gains. In summary, March confirms a constructive shift in industrial momentum, with notable strength in electrical equipment and automotive manufacturing, alongside pockets of weakness in certain traditional industries that are still adjusting to evolving market conditions.