China Industry


Industrial production moderates slightly in November

Industrial production expanded 10.0% over the same month last year in November, which was below the 10.3% increase tallied in October. November's expansion fell just short of the 10.1% increase that market analysts had expected. The mild deceleration was driven by weaker growth in manufacturing output, as well as in the production and distribution of electricity, gas and water. Conversely, the mining sector improved in November.

On a monthly basis, industrial production expanded 0.76% in seasonally-adjusted terms, which was down from the 0.85% increase tallied in October. The trend stabilized in November; annual average growth in industrial production remained at the previous month's 9.8%.

For 2013, FocusEconomics Consensus Forecast panelists expect industrial production to grow 9.7%, which is up 0.1 percentage points from last month's projection. In 2014, the panel sees industrial production growth edging down to 9.5%, which is unchanged from last month's estimate.

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China Industry Chart

China Industry November 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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