China: Industrial output growth accelerates in May
Industrial output grew 4.4% compared to the same month a year earlier in May, which followed April’s 3.9% increase. The print came in below the 5.0% rise that market analysts had expected.
May’s result was driven by much stronger growth in the secondary and tertiary sectors.
On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 1.53% in May (April: +2.20% mom). Meanwhile, annual average industrial production growth inched down to 1.6% in May (April: +1.7%).