China: Industrial output growth stable in October
Industrial output rose 6.9% year-on-year in October (September: +6.9% yoy). Looking at the details of the release, manufacturing output weakened in October, while energy output also slowed. Meanwhile, mining and quarrying production accelerated.
On a seasonally-adjusted monthly basis, industrial production rose at a softer pace of 0.8% in October (September: +1.2% mom), the worst result since February. Meanwhile, annual average industrial production growth rose to 1.9% in October (September: +1.7%), signaling an improving trend in the industrial sector.