China Industry


Industrial production decelerates in May

In May, industrial production expanded 9.2% over the same month last year, which marks a slight moderation over the 9.3% increase seen April. Moreover, the result fell short of market expectations of a 9.4% expansion. The deceleration was the result of weaker growth in light industries, while the heavy industry sub-category gained some ground.

Seasonally adjusted data showed that industrial production expanded 0.62% compared to the previous month, which is down from the 0.87% increase tallied in April. Building on the softer May reading, the trend stabilized, with annual average growth in industrial production remaining steady at April's 9.5%.

For 2013, FocusEconomics Consensus Forecast panellists expect industrial production to grow 11.0%, which is down 0.2 percentage points from last month's projection. In 2014, the panel sees industrial production growth falling slightly to 10.9%.

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China Industry Chart

China Industry May 2013

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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