China Industry November 2020


China: Industrial output posts quickest growth since March 2019 in November

December 15, 2020

Industrial output increased 7.0% compared to the same month a year earlier in November, which was above October's 6.9% increase. The figure marked the best result since March 2019. The improvement was largely driven by faster growth in manufacturing production.

On a monthly basis, industrial output rose 1.0% in seasonally-adjusted terms in November, which was better than October’s 0.8% expansion. Meanwhile, annual average growth of industrial production was stable, coming in at October's 1.9% in November.

FocusEconomics Consensus Forecast participants expect industrial production to rise 7.9% in 2021, which is up 0.3 percentage points from the previous month’s forecast. In 2022, the panel sees industrial production growth at 5.2%.

Author:, Economist

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China Industry Chart

China Industry November 20 20

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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