China Industry February 2017

China

China: Growth in industrial production accelerates at start of year

March 14, 2017

In the January-February period, industrial production expanded 6.3% over the same period last year, coming in above December’s 6.0% rise and the 6.2% increase that market analysts had expected. January-February’s reading reflected an acceleration in manufacturing output and in electricity, gas and water supply activities. Conversely, the mining subcomponent declined further in the same period.

On a monthly basis, industrial production expanded 0.60% in seasonally-adjusted terms in February, broadly unchanged from January’s 0.56% increase. After following a broadly stable trajectory for most of 2016, the trend now seems to be pointing upward. Annual average growth in industrial production inched up from 6.1% in January to 6.2% in February.

For 2017, FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.8%, which is up 0.2 percentage points from last month’s projection. In 2018, the panel sees industrial production growth falling to 5.4%.


Author: Ricard Torné, Head of Economic Research

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China Industry February 2017

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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