China: Industrial production growth hits six-month high in June
July 16, 2014
In June, industrial production expanded 9.2% over the same month last year, which was above the 8.8% increase recorded in the previous month. The increase overshot the 9.0% expansion that market analysts had expected and represented the strongest reading so far this year. The acceleration mainly reflected healthy growth in the mining sector and, to a lesser extent, in the electricity, gas and water supply category. Conversely, growth in manufacturing output inched down in June.
On a monthly basis, industrial production expanded 0.77% in seasonally-adjusted terms in June, which was just barely up from the 0.72% increase tallied in May. As a result of the virtually stable annual growth, the trend was steady in June; annual average growth in industrial production remained at the previous month’s 9.4%, which is the lowest level that has been recorded since October 2009.