China Industry February 2018


China: Industrial production growth firms up in January-February

March 14, 2018

Industrial production grew 7.2% year-on-year in the January-February period, up from a 6.2% rise registered in December, and beating market expectations of a 6.1% expansion. The National Bureau of Statistics of China releases combined data for the first two months of the year in order to smooth out distortions caused by the timing of the week-long Lunar New Year celebrations.

The January-February figure was cemented by accelerating growth in electricity, gas and water supply as well as in manufacturing output. Moreover, the mining sector returned to growth in the same period.

On a monthly basis, industrial production expanded 0.57% in seasonally-adjusted terms in February, matching January’s result. The trend pointed upward in February, with annual average growth in industrial production inching up from 6.6% in January to 6.7% in February.

China Industrial Production Forecast

FocusEconomics Consensus Forecast participants expect industrial production to rise 6.2% in 2018, which is from the previous month’s forecast. In 2019, the panel sees industrial production growth decelerating to 5.8%.

Author:, Economist

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China Industry Chart

China Industry February 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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