The industrial production growth unexpectedly accelerated in May,
increasing pressure on the central bank to raise interest rates to cool the
Output rose 18.1 percent in May from a year earlier, the National Bureau of
Statistics said today, after gaining 17.4 percent in April.
growth was the fastest since the 18.5 percent pace of January and
"More than half of China's industrial production is for export," said Chris
Leung, senior economist at DBS Bank Ltd. in Hong Kong. "But the big jump may
also mean an acceleration in fixed-asset investment."
Factory and property investment probably grew 25.4 percent in the first five
months from a year earlier, according to a Bloomberg News survey.
Vehicle production jumped 25.7 percent in May from a year earlier and cement
output increased 20.7 percent.
Honda Motor Co, the only overseas automaker with a Chinese plant making
vehicles exclusively for export, plans to boost its output at the factory 71
percent this year, the Tokyo-based company said this month.
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