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China Industrial production February 2023

China: Industrial output growth picks up in January–February but remains muted

Industrial output expanded 2.4% year on year in January–February (December: 1.3% yoy), undershooting market expectations for a 2.6% expansion. Looking at the details of the release, manufacturing, mining and utilities production all rose in the first two months of 2023.

On a seasonally adjusted monthly basis, factory output rose at a more moderate pace of 0.1% in February (January: +0.3% mom).

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