Manufacturing: Industrial Production stayed solid. Overall IIP for the first two months of 2018 increased 15.2% YoY vs 2.4% recorded in the same period last year, mainly thanks to the IIP of the manufacturing sector, which surged 17.7%, contributing 13.2 percentage points to overall IIP. The PMI survey’s results showed manufacturers continue to remain optimistic regarding client demand. This should help to maintain the current upbeat IIP in the following months.