China Industry May 2016


Growth in industrial production stabilizes in May

In May, industrial production expanded 6.0% over the same month of last year. The print matched both the result tallied in April and what market analysts had expected. May’s reading reflected how slightly stronger manufacturing output and electricity, gas and water supply activities were offset by a sharp decline in the mining sub-component.

On a monthly basis, industrial production in May expanded 0.45% in seasonally-adjusted terms, which was broadly in line with the 0.43% increase tallied in April. As a result of May’s stable reading, the trend was also unchanged, with annual average growth in industrial production remaining at April’s 6.0%.

For 2016, FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.8%, which is down 0.1 percentage points from last month’s projection. In 2017, the panel sees industrial production growth falling to 5.4%.

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China Industry Chart

China Industry May 2016

Note: Year-on-year variation of industrial production index and annual average growth rate in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS) and FocusEconomics calculations.

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