Senior APAC economist Abhijit Surya notes that while industrial production fell on month in November, firms are more upbeat about the near-term outlook and project output to rise 1.2% in December and 8% in January, the strongest projected monthly increase since the pandemic. With goods prices largely unchanged in November, sales volumes likely continued to rise briskly. The plunge in residential investment in 3Q following changes to the building code largely drove the economic contraction that quarter, but the decline should prove short-lived as housing starts to rebound, Surya adds.
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