Industrial production in October posted 3.1% decline mom, and 0.5% yoy, thus staying below the market consensus of 2.0%. Seasonally and calendar adjusted  production was up 0.7% also missed expectations of 3.4%. As the discrepancy arises out of the nationwide one-week lasting holiday, the data confirmed to question whether the economy maintains strong growth.

To get data explained in detail, the weakening mostly stemmed from a 7.4% decline in mining sector yoy and 0.9% decline in manufacturing....