China Industry

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China: Industrial production continues to decelerate in October

November 11, 2015

In October, industrial production expanded 5.6% over the same month last year. The print was slightly below September’s 5.7% increase and undershot the 5.8% expansion that market analysts had expected. October’s slowdown mainly reflected weaker growth in mining as well a mild drop in electricity, gas and water supply. Activity in manufacturing output, however, was stable in the same month.

On a monthly basis, industrial production in October expanded 0.46% in seasonally-adjusted terms, which was above the 0.38% increase tallied in September. As a result of the weak growth observed throughout this year, the trend continues to point downward. Annual average growth in industrial production ticked down from September’s 6.5% to 6.4% in October, which marked the lowest reading in over 25 years.

For 2015, FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.3%, which is down 0.1 percentage points from last month’s projection. In 2016, the panel sees industrial production growth declining to 6.2%, which is also down 0.1 percentage points from last month’s projection.


Author: Ricard Torné, Head of Economic Research

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China Industry October 2015

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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