China: Industrial production picks up in 2010
January 20, 2011
In December, industrial production expanded 13.5% over the same month the previous year, which was in line with market expectations but slightly above the robust 13.3% increase recorded in November. The acceleration over November drove 2010 full-year growth to 15.7%, well above the 11.1% expansion tallied in 2009. The slight acceleration reflected greater external demand for Chinese industrial goods and less severe energy consumption restrictions, as many industrial districts had reached their targets before the beginning of December. In addition, loose monetary conditions support consumption spending, driving up domestic demand for manufactured products.