China: Industrial production slows to eight-month low in August
September 14, 2017
In August, industrial production expanded 6.0% over the same month last year, below the 6.4% expansion in July and the weakest reading since December 2016. August’s result, which undershot the 6.6% rise that market analysts had expected, reflected worse dynamics in two of the three subcomponents of industrial production—mining and electricity, gas and water supply—the latter of which remained in contractionary territory for the third consecutive month. In contrast, growth in manufacturing accelerated in August.
On a monthly basis, industrial production expanded 0.46% in seasonally-adjusted terms in August, up from July’s 0.41% increase. The trend was stable in August, with the annual average growth in industrial production staying at 6.5% for the third month in a row.
Author: Edward Gardner, Economist