China: Industrial output growth wanes in August
Industrial production increased 5.3% year-on-year in August (July: +6.4% yoy). Factors such as flooding, higher raw material costs and anti-pollution curbs likely all weighed on momentum. August’s figure was partly driven by a deterioration in manufacturing production and slower energy output growth.
On a monthly basis, industrial production increased 0.3% in seasonally-adjusted terms in August, which matched July’s expansion. Meanwhile, the trend was also stable with average industrial production growth coming in at plus July’s 12.6% in August.