China Industry November 2016


China: Growth in industrial production inches up in November

December 13, 2016

In November, industrial production expanded 6.2% over the same month of last year, coming in slightly above October’s 6.1% rise and the 6.1% increase that market analysts had expected. November’s reading reflected stronger growth in electricity, gas and water supply activities, which was partially offset by a steeper drop in the mining subcomponent. Dynamics in the manufacturing sector were stable in November.

On a monthly basis, industrial production expanded 0.51% in seasonally-adjusted terms in November, broadly unchanged from October’s 0.50% increase. After following an uninterrupted downward trajectory since late 2013, the trend now seems to be towards stabilization. Annual average growth in industrial production remained stable at the previous three months’ 6.0% in November.

For 2017, FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.6%, which is unchanged from last month’s projection. In 2018, the panel sees industrial production growth falling to 5.3%.

Author: Ricard Torné, Lead Economist

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China Industry Chart

China Industry November 2016

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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