China: Industrial production expands strongly in July
August 9, 2013
Industrial production rose 9.7% over the same month last year in July, marking an acceleration over the 8.9% rise observed in June. The result overshot market expectations of an 8.9% increase and was mainly driven by healthy growth in manufacturing output and in production and distribution of electricity, gas and water.
Seasonally-adjusted data show that industrial production expanded 0.88% compared to the previous month, which is up from the 0.71% rise tallied in June. The trend remains stable; annual average growth in industrial production was at 9.5% for the third consecutive month.
For 2013, FocusEconomics Consensus Forecast panellists expect industrial production to grow 9.5%, which is down 0.8 percentage points from last month's projection. In 2014, the panel sees industrial production growth rising to 9.9%.