China Industry


Industrial production hits a five-month low in December

Industrial production expanded 9.7% over the same month of the previous year in December, which was below the 10.0% increase tallied in November. December's expansion fell just short of the 9.8% increase that market analysts had expected and marked the lowest reading since July 2013. The mild deceleration was broad-based; all of the main sub-categories of the index deteriorated in December.

On a monthly basis, industrial production expanded 0.71% in seasonally-adjusted terms, which was down from the 0.74% increase tallied in November. In the full year 2013, industrial production expanded 9.7%. The expansion was below the 10.0% increase tallied in 2012 and represents the lowest increase since 1999.

For 2014, FocusEconomics Consensus Forecast panelists expect industrial production to grow 9.6%, which is unchanged from last month's projection. In 2015, the panel sees industrial production growth edging down to 9.1%.

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China Industry Chart

China Industry December 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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