China Industry


Industrial production expands strongly in July

Industrial production rose 9.7% over the same month last year in July, marking an acceleration over the 8.9% rise observed in June. The result overshot market expectations of an 8.9% increase and was mainly driven by healthy growth in manufacturing output and in production and distribution of electricity, gas and water.

Seasonally-adjusted data show that industrial production expanded 0.88% compared to the previous month, which is up from the 0.71% rise tallied in June. The trend remains stable; annual average growth in industrial production was at 9.5% for the third consecutive month.

For 2013, FocusEconomics Consensus Forecast panellists expect industrial production to grow 9.5%, which is down 0.8 percentage points from last month's projection. In 2014, the panel sees industrial production growth rising to 9.9%.

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China Industry Chart

China Industry July 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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