China: Industrial output growth accelerates in September
October 19, 2020
Industrial output grew 6.9% compared to the same month of the previous year in September, which was above August’s 5.6% increase. The reading marked the best result since December 2019 and exceeded the 5.8% increase that market analysts had expected.
Looking at the details of the release, manufacturing output accelerated markedly in September, while mining output posted a smaller increase. Growth in the energy sector softened in the same month.
On a monthly basis, factory output grew 1.18% in seasonally-adjusted terms in September, a notch above the 1.03% rise in August. Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at 1.7%, up from August’s 1.6% reading.