China’s factory production growth came in faster than expected in November, on the back of an energy production boost and the easing of materials costs during the month.
- Factory production jumped by 3.8%, higher than the 3.5% increase reported in the previous month, and the expected 3.6% for the month. Coal output surged to a record-high in the month, as the government urged local miners to boost production in a bid to ensure ample energy supplies for the winter.
- Retail sales increased by 3.9% from the same month last year, but fell from the 4.9% in October and the market’s expected 4.6%, while year-to-date fixed asset investment climbed 5.2%. This is slower than the 6.1% in January to October and the 5.4% expected by the market.
- Analysts expect the fourth-quarter economic expansion to fall below 4% versus the 4.9% in the third quarter, and full-year growth about 8% or above the 6% target.
CNYA is down 1.08%.