China: Growth in industrial production hits four-month high in June
July 15, 2015
In June, industrial production expanded 6.8% over the same month last year, which was above May’s 6.1% increase. The print came in above the 6.0% expansion that market analysts had expected and represented a four-month high. June’s expansion mainly reflected a strong acceleration in manufacturing. Growth in both mining and electricity, gas and water supply lost some steam in June.
On a monthly basis, industrial production in June expanded 0.64% in seasonally-adjusted terms, which was up from the 0.54% increase tallied in May. Nevertheless, as a result of the weak growth observed throughout this year, the trend continues to point downward. Annual average growth in industrial production ticked down from May’s 7.3% to 7.1% in June, which marked the lowest reading since 1990.