China's industrial output soared 23.2 per cent in February from a year earlier, official data shows, suggesting the economy is not slowing down despite warnings of overheating.
Coming on the heels of the announcement of a 40 per cent rise in exports in February, the output data contributed to the picture of an economy driven by demand both at home and abroad.
"Industrial output has kept last year's momentum for speedy growth," the National Bureau of Statistics said in a press release, reporting output of 371 billion yuan (US$45 billion) last month.
The steep February rise partly came about because the Lunar New Year holiday caused a week-long lull in February last year, whereas it fell in January this year, meaning figures are not directly comparable.
Even taking the holiday factor into account, China's economy was speeding ahead, as in the first two months of the year industrial output rose 16.6 per cent from the same period in 2003.
