Industrial production growth in China accelerated in November

Industrial production growth in China accelerated in November, heading serial signal for improving stability in the world’s second largest economy. Industrial production value added, which is a rough measure of economic growth, expanded by 6.2% yoy after October recorded an increase of 6.1%, according to data of the National Statistical Service of the country. The median forecast of economists was for an increase of 6.0%. The Chinese statistics bureau noted that economy remains stable overall, but the external, internal environment has many uncertainties.

On a monthly basis, industrial production expanded by 0.51%, after the previous month surged by 0.5%.

The investments in fixed assets outside rural areas increased by 8.3% on an annual basis for the period from January to November. The rate of increase is the same as in January-October and justifies expectations of economists surveyed. Investments in fixed assets is carefully monitored and are an indicator for construction activity.

Retail sales increased by 10.8% yoy in November and marked acceleration after a 10-percent increase in October. The value is higher than expectations for an increase of 10.3%.

The stats bureau adds that November property sales growth was at 7.9% yoy, saying this is the lowest since December of last year. Also the private investment accelerate to 3.1% from 2.9%.

The industrial production and retail sales both are beating on expectations. The data from China has been on the up in recent months, so probably not too much of a shock that there are some beats coming through.

more recommended stories