|Yr/Yr % change||6.5%||6.1%||6.0%|
|M/M % Change||0.53%||0.32%|
August industrial production was up a less than expected 6.1 percent from a year ago after increasing 6.0 percent in July. For the year to date, output added 6.3 percent. On the month, production was up 0.53 percent. Motor vehicle production skidded 6.5 percent after sinking 11.2 percent the month before. Transport equipment added 5.1 percent, down from 7.7 percent in July. Machinery output eased to an increase of 6.9 percent after rising 7.5 percent in July.
The data point to continued weakness across large swaths of the economy, heaping more pressure on the government to seek to further stimulate activity.
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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