China: Industrial production contracts at slower pace in March
Industrial production declined 1.1% year-on-year in March, following the record contraction of 13.5% in January-February. The print was above the 6.2% decline that market analysts had expected.
On a month-on-month seasonally-adjusted basis, industrial production rebounded to a 32.1% rise in March, contrasting the 24.9% drop in February. Annual average growth in industrial production, meanwhile, tumbled from 2.6% in February to 1.8% in March.