China: Industrial production slows
August 9, 2011
In July, industrial production climbed 14.0% over the same month last year, following a 15.1% expansion tallied in the previous month. In addition, the July outturn fell short of market expectations, which had industrial output expanding 14.6%. Industrial growth in July was mainly led by heavy industries, in particular by non-metal mineral products and general machinery. According to seasonally adjusted month-on-month data, industrial production rose 0.90% in July (June: +1.44% mom), which confirms the slowdown suggested by the annual figures. As a result of the more subdued annual reading in July, annual average growth in industrial production remained at 13.8%.