Industrial output jumps 18.5%
16 March 2007
Industrial output jumped 18.5% in January and February year-on-year. The jump was much higher than what economists expected. A Reuters poll put their forecasts at 15.5%, the Financial Times reported, quoting figures from the National Bureau of Statistics. The rise was also much higher than December's growth figure of 14.7% and higher than the 16.2% hike posted in the first two months of 2006. The growth figures reinforced expectations that China may tighten its policy once again to keep the economy from overheating. Earlier this week, reported figures showed exports grew 50% in February from a year earlier. Industrial output is rising due to a number of factors, including booming exports, high investment rates and rising consumer spending.