China Industry December 2018


China: Industrial production gains steam in December

January 21, 2019

Industrial production increased 5.7% year-on-year in December, up from the 5.4% rise registered in November and beating market expectations of 5.3%.

December’s print marked a modest acceleration, as growth in the mining sector accelerated markedly in annual terms compared to the previous month. Nevertheless, growth in both manufacturing output and in the electricity, heating power, gas, and water sector decelerated in December.

On a month-on-month basis, industrial production increased 0.54% in seasonally-adjusted terms in December, higher than November’s 0.37% Annual average growth in industrial production, meanwhile, ticked down from 6.3% in November to 6.2% in December.

China Industrial Production Forecast

FocusEconomics Consensus Forecast participants expect industrial production to rise 5.9% in 2019, which is down 0.1 percentage points from the previous month’s forecast. In 2020, the panel sees industrial production growth decelerating to 5.7%.


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China Industry Chart

China Industry December 2018

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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