China: Industrial production picks up in September
October 21, 2014
In September, industrial production expanded 8.0% over the same month last year, which was above the 6.9% increase recorded in the previous month. August’s print had marked the weakest gain since February 2009. The increase tallied in September overshot the 7.5% expansion that market analysts had expected and mainly reflected faster growth in manufacturing. Electricity, gas and water supply rebounded, while mining slowed to a six-month low.
On a monthly basis, industrial production expanded 0.91% in seasonally-adjusted terms, which was up from the 0.22% increase tallied in August. Despite the strong acceleration observed in September, the trend continues to point downward; annual average growth in industrial production ticked down from the previous month’s 9.1% to 8.9%, which marks the lowest print that has been recorded since September 2009.