“However, the survey of manufacturers' production forecasts showed projected m-m growth in output of 0.9% in December and 6.0% in January, with a pickup particularly from the start of the year. Production has been below projected levels recently, but the survey points clearly to a bullish outlook among manufacturers.”
“Based on these figures, production in Oct-Dec would rise 1.3% q-q. That suggests production should recover in Oct-Dec after declining for the second straight quarter in Jul-Sep. The forecast figure for January is 6.3% higher than the average for Oct-Dec, also pointing to accelerating activity.”
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