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China: Growth in industrial production hits four-month high in June

July 15, 2015

In June, industrial production expanded 6.8% over the same month last year, which was above May’s 6.1% increase. The print came in above the 6.0% expansion that market analysts had expected and represented a four-month high. June’s expansion mainly reflected a strong acceleration in manufacturing. Growth in both mining and electricity, gas and water supply lost some steam in June.

On a monthly basis, industrial production in June expanded 0.64% in seasonally-adjusted terms, which was up from the 0.54% increase tallied in May. Nevertheless, as a result of the weak growth observed throughout this year, the trend continues to point downward. Annual average growth in industrial production ticked down from May’s 7.3% to 7.1% in June, which marked the lowest reading since 1990.

For 2015, FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.8%, which is down 0.1 percentage points from last month’s projection. In 2016, the panel sees industrial production growth declining to 6.5%.


Author: Ricard Torné, Lead Economist

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China Industry June 2015 0

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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