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Industrial production surges in June
By Winny Wang |
July 14, 2011, Thursday
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Print Edition
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CHINA'S manufacturing output grew at the fastest pace last month since May 2010, beating analysts' expectations and eliminating concerns over a hard landing of the country's economy, although analysts predicted the rise in output would ease in the second half of the year.
Industrial output gained 15.1 percent in June from a year earlier, faster than a 13.3 percent increase in May, the National Bureau of Statistics said yesterday. The growth was also higher than market consensus estimates of 13.1 percent.
Heavy industry added 15.6 percent in the period, faster than a 13.5 percent growth in May. Light industry also accelerated by 13.9 percent from a 12.9 percent jump in May, according to the bureau.
"An easing impact from Japan's earthquake, a moderating power shortage and growing fixed-asset investments drove up industrial output in June," said Peng Wensheng and Sun Miaoling, analysts at China International Capital Co Ltd.
"But we expect the output growth will moderate in the second half of this year to maintain around 13 percent, and the possibility of a hard landing for China's economy is slim," they said.
Crude steel production gained 11.9 percent to 59.93 million tons in June, faster than a 7.8 percent in May, and power output surged 16.2 percent to 396.8 billion kilowatt hours last month from May's 12.1 percent growth.
Auto production rebounded 3.6 percent to 1.49 million units in June, after dropping 1.9 percent in May.
Industrial output gained 15.1 percent in June from a year earlier, faster than a 13.3 percent increase in May, the National Bureau of Statistics said yesterday. The growth was also higher than market consensus estimates of 13.1 percent.
Heavy industry added 15.6 percent in the period, faster than a 13.5 percent growth in May. Light industry also accelerated by 13.9 percent from a 12.9 percent jump in May, according to the bureau.
"An easing impact from Japan's earthquake, a moderating power shortage and growing fixed-asset investments drove up industrial output in June," said Peng Wensheng and Sun Miaoling, analysts at China International Capital Co Ltd.
"But we expect the output growth will moderate in the second half of this year to maintain around 13 percent, and the possibility of a hard landing for China's economy is slim," they said.
Crude steel production gained 11.9 percent to 59.93 million tons in June, faster than a 7.8 percent in May, and power output surged 16.2 percent to 396.8 billion kilowatt hours last month from May's 12.1 percent growth.
Auto production rebounded 3.6 percent to 1.49 million units in June, after dropping 1.9 percent in May.
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