China: Industrial production hits five-month high in October
November 9, 2012
In October, industrial production expanded 9.6% over the same period last year, which was above the 9.2% rise tallied in September. The print overshot market expectations of a 9.4% rise and marked the fastest pace since May. The acceleration seen in industrial production was due to faster growth in both heavy and light industries. Compared to the previous month, industrial production expanded a seasonally adjusted 0.81%, following on the 0.80% increase tallied in September. Despite the pick-up seen in September and October, the trend is still pointing downward, with annual average growth in industrial production falling from 10.7% in September to 10.4%.