China: Industrial production picks up in September
October 18, 2012
In September, industrial production expanded 9.2% over the same period last year, which was above the 8.9% rise tallied in August. The print overshot market expectations of a 9.0% rise and marks the first improvement after three months of deceleration. The acceleration seen in industrial production was due to faster growth in both heavy and light industries. Compared to the previous month, industrial production expanded a seasonally adjusted 0.79%, following on the 0.71% increase tallied in August. Despite the pick-up seen in September, the trend is still pointing downwards, with annual average growth in industrial production falling from 11.1% in August to 10.7% in September.