China: Growth in industrial production at over-five-year low in August
September 13, 2014
In August, industrial production expanded 6.9% over the same month last year, which was well below the 9.0% increase recorded in the previous month. The increase undershot the 8.8% expansion that market analysts had expected and represented the weakest gain since February 2009. The deceleration mainly reflected lower growth across all the main subcategories, with the electricity, gas and water supply sector recording a drop in August.
On a monthly basis, industrial production expanded 0.20% in seasonally-adjusted terms, which was down from the 0.62% increase tallied in July. As a result of the sharp slowdown observed in August, the trend now points downward; annual average growth in industrial production fell from the previous month’s 9.4% to 9.1%, which is the lowest print that has been recorded since October 2009.