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%.