China: Industrial production growth inches up in October
Industrial production expanded 5.9% year-on-year in October, up from a 5.8% rise in September and overshooting market expectations of 5.8%.
October’s print mainly reflected faster growth in the mining and manufacturing sectors, while the dynamics in the production and distribution of electricity, heating power, gas and water softened compared to September.
On a month-on-month basis, industrial production increased 0.48% in seasonally-adjusted terms in October, unchanged from September’s expansion. Annual average growth in industrial production, meanwhile, stabilized at September’s 6.4% in October.