China: Industrial output growth loses pace in April
May 17, 2021
Industrial production increased 9.8% year-on-year in April (March: +14.1% yoy). The slower growth was largely driven by a deterioration in manufacturing output growth. In addition, energy production lost steam.
On a seasonally-adjusted monthly basis, industrial output rose at a softer pace of 0.5% in April (March: +0.6% mom), the worst result since February 2020. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 11.8% in April, up from March's 11.3%.
Author: Oliver Reynolds, Economist