|Yr/Yr % change||7.6%||6.8%||7.9%|
|M/M % Change||0.45%||0.75%|
Combined January/February industrial output was up a disappointing 0.45 percent on the month and 6.8 percent from a year ago. The annual increase was the lowest since August when output increased 6.9 percent and the slowest since 2008. Output is considered a good proxy for broader economic growth. Seven subcategories increased production while six produced less.
The People's Bank of China has already cut interest rates twice in the past three months in its efforts to boost the economy.
Industrial production measures the change in the total inflation adjusted value of output produced by manufacturers, mines and utilities. Data are compared with the same month a year earlier.
Chinese data can have a broad impact on the currency markets due to China's dominant influence on the global economy and investor sentiment. It's a leading indicator of economic health. Production is the dominant driver of the economy and reacts quickly to ups and downs in the business cycle. No data are published in February for January.
The industrial growth rate is used to reflect a certain period of increase or decrease in volume of industrial production indicators. The indicator can be used to estimate the short term trend of the industrial economy, to judge the extent of the economic boom and also to be an important reference and basis for the formulation and adjustment of economic policies.
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