Publication date:
Jun 25, 2025
IMF Data Brief: Production Indexes
World Industrial Production Remains on an Upward Trend Despite a Small Decline in March
Production Indexes, World and Country Group Aggregates
(Contributors: Anthony Silungwe and Arushi Kapoor)
World Industrial Production (IP) gave back in March some of the outsized gain recorded the previous month but remained firmly on an upward trend. The trend is driven by robust growth in Emerging Market and Developing Economies (EMDEs). In contrast, IP has broadly stagnated in Advanced Economies (AEs) after bouncing back to pre-COVID levels in 2022. Over the last three years, IP declined in several major AEs including France, Germany, Italy, Japan and the United Kingdom, while IP growth was positive in the Netherlands, Switzerland and United States among others.
In March, World IP decreased 0.2 percent month-on-month, following a 1.1 percent increase in February 2025. IP in EMDEs declined 0.6 percent subtracting 0.4 percentage points from World IP growth. Meanwhile, AEs posted growth for the second consecutive month partially offsetting the decline in EMDEs.
All EMDE regions declined in March except for Emerging and Developing Europe. IP in Emerging and Developing Asia fell 0.9 percent after a 1.7 percent increase in February. Similarly, Latin America and the Caribbean decreased 0.8 percent after a 1.0 percent growth in February. Sub-Saharan Africa and Middle East and Central Asia declined 1.1 percent and 0.1 percent, respectively. In contrast, Emerging and Developing Europe increased 1.5 percent in March, reversing some of the decline observed over the previous two months.
Notes: Seasonally adjusted World and Country Group Aggregate estimates are based on a sample of 118 economies that disseminate an Industrial Production (IP) index. Country Group Aggregates are based on WEO classification.
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