China: Plunge in industrial production continues in August
Industrial production increased 4.4% year-on-year in August, down from July’s 4.8% expansion. August’s print undershot analysts’ expectations of a 5.2% rise and marked the weakest expansion since February 2002.
The reading reflected slowdowns in all main subcategories of the index, especially in energy generation and mining output.
On a month-on-month basis, industrial production increased 0.32% in seasonally-adjusted terms in August, up from the 0.19% increase in July. Annual average growth in industrial production, meanwhile, edged down to 5.7% in August from July’s 5.8%.