China’s Industrial Output Expected to Have Grown 5.6% in 2019

According to latest estimates by the Ministry of Industry and Information Technology, industrial output in China is expected to increase by 5.6% overall this year. In November, industrial production had risen 6.2% higher YoY, significantly higher than the 4.7% YoY growth registered in October.

Industrial production expanded at the fastest rate annually seen since five months, rising on hopes of diminishing trade tensions between the US and china. The recent positive developments towards signing the phase one trade deal could see industrial production pick up in China in 2020.

At the beginning of a brand new week, the Chinese yuan is trading steady against the US dollar as markets head towards the holiday season. USD/CNH is trading at around 7.0007 at the time of writing, back above the key level of 7 as markets await details on when the phase one deal will be signed between the US and China.