China Industry March 2021


China: Industrial output growth eases in March but remains robust

April 16, 2021

Industrial production rose 14.1% year-on-year in March (January–February: +35.1% yoy). Looking at the details of the release, the manufacturing sector drove the reading.

On a seasonally-adjusted monthly basis, factory output rose 0.6% in March (February: +0.7% mom). Meanwhile, annual average industrial production growth rose to 11.3% in March from 10.1% in February.

FocusEconomics Consensus Forecast participants expect industrial production to rise 8.7% in 2021, which is up 0.2 percentage points from the previous month’s forecast. In 2022, the panel sees industrial production growth at 5.3%.

Author:, Economist

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China Industry Chart

China Industry March 2021 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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