China Industry

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China: Growth in industrial production picks up in May

June 11, 2015

In May, industrial production expanded 6.1% over the same month last year, which was above April’s 5.9% increase. The print came in slightly above the 6.0% expansion that market analysts had expected and represented a three-month high. May’s expansion mainly reflected an acceleration in all the main categories of the index.

On a monthly basis, industrial production in May expanded 0.52% in seasonally-adjusted terms, which was slightly down from the 0.58% increase tallied in April. 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 April’s 7.5% to 7.3% in May, which marked the lowest reading since 1990.

For 2015, FocusEconomics Consensus Forecast panelists expect industrial production to grow 7.3%, which is down 0.6 percentage points from last month’s projection. In 2016, the panel sees industrial production growth declining to 7.1%.


Author: Ricard Torné, Head of Economic Research

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China Industry May 2015

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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