China: Industrial production decelerates in May
June 9, 2013
In May, industrial production expanded 9.2% over the same month last year, which marks a slight moderation over the 9.3% increase seen April. Moreover, the result fell short of market expectations of a 9.4% expansion. The deceleration was the result of weaker growth in light industries, while the heavy industry sub-category gained some ground.
Seasonally adjusted data showed that industrial production expanded 0.62% compared to the previous month, which is down from the 0.87% increase tallied in April. Building on the softer May reading, the trend stabilized, with annual average growth in industrial production remaining steady at April's 9.5%.
For 2013, FocusEconomics Consensus Forecast panellists expect industrial production to grow 11.0%, which is down 0.2 percentage points from last month's projection. In 2014, the panel sees industrial production growth falling slightly to 10.9%.