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China Industry May 2020

China: Industrial output growth accelerates in May

Industrial output grew 4.4% compared to the same month a year earlier in May, which followed April’s 3.9% increase. The print came in below the 5.0% rise that market analysts had expected.

May’s result was driven by much stronger growth in the secondary and tertiary sectors.

On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 1.53% in May (April: +2.20% mom). Meanwhile, annual average industrial production growth inched down to 1.6% in May (April: +1.7%).

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