China Industry December 2016

China

China: Growth in industrial production slows at the end of 2016

January 20, 2017

In December, industrial production expanded 6.0% over the same month of the previous year, coming in below November’s 6.2% rise and the 6.1% increase that market analysts had expected. December’s reading reflected weaker growth in manufacturing output and in electricity, gas and water supply activities. The slowdown was partially offset by a softer drop in the mining subcomponent.

On a monthly basis, industrial production expanded 0.46% in seasonally-adjusted terms in December, broadly unchanged from November’s 0.46% 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 four months’ 6.0% in December.

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, Head of Economic Research

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