Market Research Survey Reveals Industrial Output Rises in China
11th September 2013 11:57 - Industrial
According to the National Bureau of Statistics, China’s industrial production rose a tenth (10.4%) from a year earlier, accelerating from July’s 9.7% advance. Separate Dow Jones Newswires and Reuters surveys of economists had showed expectations for a 9.9% gain.
RBS chief China economist Louis Kuijs said:
“The recent improvement is largely because of better exports amidst improving global demand, but continued solid domestic demand growth provided an important cushion during the slowdown and remains key now.”
Industrial production topped all forty-five analysts’ estimates in a Bloomberg News survey, with projections ranging from 9.2% to 10.2%, following a 9.7% gain in July. Thirty-nine of forty-one industries reported growth, including a 13.6% gain in ferrous metals and 12.3% in chemicals according to the statistics agency.
Goldman Sachs Group Inc. recently published its estimate for China’s economic growth for the third and fourth quarters, citing improving global demand and a stronger than expected domestic industrial recovery.
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