China: Industrial production continues on the upside in March
April 15, 2011
In March, industrial production expanded 14.8% over the same month last year. The reading came in well above market expectations of a 14.0% increase and exceeded the 14.1% increase recorded in January/February. In the first quarter, industrial production grew 14.4% year-on-year, overshooting the 13.3% expansion registered in the fourth quarter of 2010. In the first three months of 2011, the increase was driven by strong growth in general machinery as well as electrical machinery and equipment. Demand for investment goods climbed amid an improving outlook for external demand and resilient domestic consumption. In spite of the strong March reading, annual average growth in industrial production continued to slow, falling from 14.6% in February to 14.3%.