China: Industrial production gains steam in November
December 12, 2015
In November, industrial production expanded 6.2% over the same month last year. The print was above October’s 5.6% increase and overshot the 5.7% expansion that market analysts had expected. November’s acceleration, which marked a five-month high, mainly reflected stronger growth in manufacturing output as well as a rebound in electricity, gas and water supply. Conversely, activity in mining was broadly unchanged in November.
On a monthly basis, industrial production expanded 0.58% in seasonally-adjusted terms, which was above the 0.48% increase tallied in October. As a result of the weak growth observed throughout this year, the trend continues to point downward. Annual average growth in industrial production ticked down from October’s 6.4% to 6.3% in November, which marked the lowest reading in over 25 years.