China: Industrial production maintains upward trend in December
January 18, 2013
In December, industrial production expanded 10.3% over the same period the previous year, which was above the 10.1% rise tallied in November. In addition, the print was virtually in line with market expectations of a 10.2% increase and marked the fastest pace since March. The main driver behind the acceleration was healthy growth in light industries, while heavy industries registered milder gains.
Compared to the previous month, industrial production expanded a seasonally adjusted 0.87%, following the 0.88% increase tallied in November. Despite the pick-up seen in the second half of 2012, industrial production expanded 10.0% in the full year, which was well below the 13.9% expansion tallied in 2011. That said, the print was in line with the previous month's FocusEconomics Consensus Forecast that had industry increasing 10.1%.