Industrial production increased by 0.4% in September and 2.9% at an annual rate in the third quarter. However, the sector is facing headwinds that could hamper growth. The industry is struggling with challenges related to the shifting economic climate, attributed to the stubbornly high inflation and consequent rate hikes.
Moreover, the consistent supply chain issues have been among the biggest disruptions for the past few years. And Russia’s invasion of Ukraine has been intensifying supply chain concerns as economic sanctions against Russia are increasing.
