China Industry June 2022

China

China: Industrial output growth picks up pace in June

July 15, 2022

Industrial production rose 3.9% year on year in June (May: +0.7% yoy). Looking at the details of the release, June's pickup was broad-based, with the manufacturing, energy and mining and quarrying sub-sectors all gaining steam.

On a monthly basis, industrial output increased 0.8% in seasonally-adjusted terms in June, which was below May’s 4.2% expansion. Meanwhile, annual average industrial production growth fell to 4.1% in June (May: +4.5%).

FocusEconomics Consensus Forecast participants expect industrial production to rise 4.6% in 2022, which is down 0.3 percentage points from the previous month’s forecast. In 2023, the panel sees industrial production growth at 5.1%.


Author:, Economist

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China Industry June 2022

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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