China: Industrial production continues to accelerate in November
December 9, 2012
In November, industrial production expanded 10.1% over the same period the previous year, which was above the 9.6% rise tallied in October. In addition, the print overshot market expectations of a 9.8% increase and marked, in fact, the fastest pace since March. The main driver behind the acceleration was healthy growth in heavy industries, while light industries recorded milder gains.
Compared to the previous month, industrial production expanded a seasonally adjusted 0.86%, following the 0.83% increase tallied in October. Despite the pick-up seen in the last three months, the trend is still pointing downwards, with annual average growth in industrial production falling from 10.4% in October to 10.2%.