China: Industrial production accelerates in June
July 15, 2016
In June, industrial production expanded 6.2% over the same month of last year. The print overshot both the 6.0% rise tallied in May and the 5.9% increase that market analysts had expected. June’s reading reflected a stronger expansion in electricity, gas and water supply activities, while growth in all-important manufacturing output was stable. TConversely, the pace of decline in the mining sub-component quickened accelerated slightly in the same month.
On a monthly basis, industrial production expanded 0.47% in seasonally-adjusted terms in June, which was broadly in line with the 0.44% increase tallied in May. As a result of the weak readings observed in the last few months, the trend is pointing downward, with annual average growth in industrial production falling from 6.0% in May to 5.9% in June.