Industrial output growth ebbs in May
Industrial output increased 3.5% year on year in May (April: +5.6% yoy), slightly below market expectations and weighed on by soft goods demand at home and abroad. The reading was largely due to a deterioration in manufacturing production growth and a contraction in mining output.
On a seasonally adjusted monthly basis, industrial output rebounded, rising 0.6% in May (April: -0.3% mom). Meanwhile, annual average industrial production growth rose to 3.6% in May (April: +3.0%).
China Industry Chart
China Industry Data
|Industrial Production (ann. var. %)||6.2||5.7||2.8||9.6||3.6|