China: Industrial production picks up in December
January 17, 2012
In December, industrial production expanded 12.8% over the same month the previous year, which was above both the 12.4% rise recorded in the previous month and the 12.3% expected by market analysts. The acceleration seen in industrial production was mainly driven by stronger growth in heavy industries, particularly in the production of electricity and crude. Seasonally adjusted data corroborate the improvement suggested by the annual figures, as industrial production expanded 1.10% over the previous month, which came in above November's 0.93% rise. Owing to the expansion seen in December, industrial production grew an average 13.9% in 2011, which was down from the 15.7% average reading recorded in 2010.