China: Industrial production decelerates in September
October 18, 2013
Industrial production rose 10.2% in September over the same month last year, matching market expectations. The print marks a slowdown compared to August's 10.4% increase, which had represented the strongest expansion since March 2012. The moderation was driven by weaker growth in the production and distribution of electricity, gas and water as well as in mining, whereas manufacturing output accelerated.
On a monthly basis, industrial production expanded 0.72% in seasonally-adjusted terms, which was down from the 0.92% rise tallied in August. The trend, however, continues to improve, with annual average growth in industrial production increasing from 9.6% in August to 9.7% in September.
For 2013, FocusEconomics Consensus Forecast panelists expect industrial production to grow 9.6%, which is unchanged from last month's projection. In 2014, the panel sees industrial production growth inching down to 9.5%, which is down 0.1 percentage points from last month's estimate.