China Industry December 2019


China: Industrial production expands at fastest pace in nine months in December

January 17, 2020

Industrial production increased 6.9% year-on-year in December, above November’s 6.2% expansion. The print overshot analysts’ expectations of a 5.9% rise and represented the strongest reading in nine months. The expansion was led by a sizeable acceleration in the manufacturing sector.

On a month-on-month seasonally-adjusted basis, industrial production increased 0.58% in December, down from the 0.66% expansion in November. Annual average growth in industrial production, meanwhile, inched up from November’s 5.6% to 5.7% in December.

FocusEconomics Consensus Forecast participants expect industrial production to rise 5.2% in 2020, which is unchanged from the previous month’s forecast. In 2021, the panel sees industrial production growth at 5.1%. .

Author: Ricard Torné, Lead Economist

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China Industry Chart

China Industry December 2019 0

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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