China Industry


Industrial production rebounds but misses expectations

In April, industrial production expanded 9.3% over the same month last year. The print marks an improvement over the 8.9% increase seen in March, which had marked the slowest growth rate recorded since August 2012. However, the result fell short of market expectations of a 9.4% expansion. The acceleration was the result of stronger growth in both light and heavy industries.

Seasonally adjusted data showed that industrial production expanded 0.87% compared to the previous month, which is up from the 0.67% increase tallied in March. Building on the stronger April result, industrial production halted the downward trend in place since January 2012, with annual average growth in industrial production steady at March's 9.5%.

For 2013, FocusEconomics Consensus Forecast panellists expect industrial production to grow 11.2%, which is unchanged 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 April 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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