China Industry April 2020


China: Industrial output rebounds in April

May 15, 2020

Industrial output grew 3.9% compared to the same month a year earlier in April, which contrasted March's 1.1% decrease.

April's result was driven by strong rebounds in manufacturing and energy output.

On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 2.3% in April (March: +33.0% mom). Meanwhile, annual average industrial production growth fell to 1.7% in April (March: +1.8%). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast participants expect industrial production to rise 1.1% in 2020, which is down 2.4 percentage points from the previous month’s forecast. In 2021, the panel sees industrial production growth at 7.7%.

Author: Ricard Torné, Lead Economist

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China Industry Chart

China Industry April 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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