China Industry June 2021


China: Industrial output records lowest expansion since December 2020 in June

July 15, 2021

Industrial production grew 8.3% year-on-year in June (May: +8.8% yoy). June's outturn marked the worst reading since December 2020. Looking at the details of the release, manufacturing output expanded at a softer pace in June, while energy output gained momentum.

On a monthly basis, factory output grew 0.6% in seasonally-adjusted terms in June, which was better than May’s 0.5% expansion. Meanwhile, the trend improved modestly, with the annual average growth of industrial production coming in at plus 12.5% in June, up from May's 12.2%.

FocusEconomics Consensus Forecast participants expect industrial production to rise 9.9% in 2021, which is up 0.1 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 June 2021

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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