China: Industrial output grows at fastest pace in over one year in December
Industrial production rose 7.3% year-on-year in December (November: +7.0% yoy). The result marked the strongest expansion since March 2019. Looking at the details of the release, manufacturing output was steady in December, while energy output gained momentum. Meanwhile, mining and quarrying production also gained steam.
On a seasonally-adjusted monthly basis, factory output rose at a quicker rate of 1.1% in December (November: +1.0% mom), the best result since June. Meanwhile, annual average industrial production growth rose to 2.0% in December (November: +1.9%).