China: Industrial production slows to three-month low in July
August 12, 2015
In July, industrial production expanded 6.0% over the same month last year, which was below June’s 6.8% increase. The print undershot the 6.6% expansion that market analysts had expected and represented a three-month low. July’s deceleration mainly reflected a contraction in electricity, gas and water supply and weaker growth in manufacturing output. Conversely, the mining category accelerated to a one-year-high in the same month.
On a monthly basis, industrial production in July expanded 0.32% in seasonally-adjusted terms, which nearly halved the 0.62% increase tallied in June. As a result of the weak growth observed throughout this year, the trend continues to point downward. Annual average growth in industrial production ticked down from June’s 7.1% to 6.8% in July, which marked the lowest reading since 1990.