China: Industrial production picks up in early 2011
March 11, 2011
In the first two months of 2011, industrial production expanded 14.1% over the same period the previous year. The reading came in above market expectations of a 13.3% increase and exceeded the 13.5% increase recorded in December. The recent industrial production figures show that momentum remains strong, despite authorities' efforts to curb an uncomfortably rapid pace of economic growth. Nevertheless, the data is to some extent distorted by the impact of Chinese New Year and by methodological changes in the calculation of industrial output. In spite of the strong January-February reading, annual average growth in industrial production continued to slow, falling from 15.7% in December to 14.6%.