China: Growth in industrial production virtually stabilizes in July
August 12, 2016
In July, industrial production expanded 6.0% over the same month of last year. The print fell short of the 6.2% rise tallied in June and was in line with market expectations. July’s reading reflected a mild slowdown in manufacturing production, while the expansion in electricity, gas and water supply activities was faster in July than in the previous month. Conversely, the pace of decline in the mining sub-component accelerated.
On a monthly basis, industrial production expanded 0.52% in seasonally-adjusted terms in July, which was broadly in line with the 0.50% increase tallied in June. The trend had followed an uninterrupted downward trajectory since late 2013, yet it now seems to be towards stabilization. Annual average growth in industrial production remained stable at June’s 5.9% in July.