RHB | China | Economy Showed Signs of Stabilising, 13 June 2014

Economic Research	13 June 2014
China
Economic Highlights
Economy Showed Signs of Stabilising China’s industrial activity and consumption showed improvement during May, suggesting that economic growth may be stabilising following some filtering-through of recent pro-growth measures. Growth in industrial production increased to 8.8% yoy in May from 8.7% in Apr, indicating a faster rise in industrial output despite slightly below our expectation (OSK-DMG: 8.9%, consensus: 8.8%). Among the major industrial products, output growth of electricity and steel products rose to 5.9% and 6.1% yoy in May from 4.4% and 5.4% in Apr, while the output of automobiles surged 12.2% yoy compared to 7.9% a month ago. Production in a number of industries such as textiles, transport equipment and metal products also accelerated. Economist:  Liang Siew Huay  | +65 6232 3851
To access our recent reports please click on the links below: 10 June 2014 : Inflation Picked Up to 2.5% yoy in May 10 June 2014 : Second Targeted RRR Cut in Two Months 04 June 2014 : Non-manufacturing PMI Rose to Six-Month High 02 June 2014 : Official Manufacturing PMI Rose for a Third Straight Month 19 May 2014 : Home Price Growth Continued to Moderate in April