China Industry November 2017

China

China: Growth in industrial production inches down in November

December 14, 2017

In November, industrial production expanded 6.1% over the same month last year, a notch below the 6.2% expansion in October. November’s result, which slightly overshot the 6.0% rise that market analysts had expected, reflected a slowdown in electricity, gas and water supply. Moreover, the decline in the mining sector accelerated. Growth in manufacturing output, however, accelerated in the same month.

On a monthly basis, industrial production expanded 0.48% in seasonally-adjusted terms in November, slightly down from October’s 0.50% increase. The trend was stable in November, with the annual average growth in industrial production staying at 6.5% for the sixth month in a row.

FocusEconomics Consensus Forecast participants expect industrial production to rise 6.0% in 2018, which is unchanged from the previous month’s forecast. In 2019, the panel sees industrial production growth decelerating to 5.7%.


Author: Ricard Torné, Head of Economic Research

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China Industry November 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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