China: Industrial production growth inches up in December
Industrial production grew 6.2% year-on-year in December, up from a 6.1% rise registered in November, and beating market expectations of a 6.0% expansion. December’s figure was cemented by accelerating growth in electricity, gas and water supply. Growth in the mining sector, while still negative, improved from November, while the expansion in the manufacturing sector decelerated slightly.
On a monthly basis, industrial production expanded 0.52% in seasonally-adjusted terms in December, slightly up from November’s 0.47% increase. The trend was stable in December, with annual average growth in industrial production staying at 6.5% for the seventh month in a row.