Factory output in November

The New Year seems to be bringing some cheer with the emergence of green shoots in the economy. Industrial production rose by 5.9%, the fastest pace of expansion in five months, on account of a better performance by the manufacturing and electricity sectors. What’s more, it reversed sentiments, which fell to new lows following a 5.1% dip in factory output in October when the government released the data last month. Those numbers have now been revised to a 4.7% contraction. In November 2010, the index of industrial production had grown by 6.4%.