China Industry


Industrial production maintains upward trend in December

In December, industrial production expanded 10.3% over the same period the previous year, which was above the 10.1% rise tallied in November. In addition, the print was virtually in line with market expectations of a 10.2% increase and marked the fastest pace since March. The main driver behind the acceleration was healthy growth in light industries, while heavy industries registered milder gains.

Compared to the previous month, industrial production expanded a seasonally adjusted 0.87%, following the 0.88% increase tallied in November. Despite the pick-up seen in the second half of 2012, industrial production expanded 10.0% in the full year, which was well below the 13.9% expansion tallied in 2011. That said, the print was in line with the previous month's FocusEconomics Consensus Forecast that had industry increasing 10.1%.

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China Industry Chart

China Industry December 2012

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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