Wednesday 10 July 2013

May factory output at three-month low of 1.6%

Factory production growth probably eased to a three-month low in May dampened by weak infrastructure sector output, as weak global demand and consumption weigh on a recovery in Asia's third-largest economy, a Reuters poll found.

The median forecast of 23 economists showed output at factories, mines and utilities grew an annual 1.6 per cent in May, after an upwardly revised 2.3 per cent in April.

Although the consensus estimate showed growth in industrial output for the fifth consecutive month, the pace is a far cry from the near 10 per cent seen between late 2009 and 2011.

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