China Industry July 2018


China: Industrial production growth is stable in July

August 14, 2018

Industrial production expanded 6.0% annually in July, matching the figure of the previous month but undershooting market expectations of a 6.3% increase.

July’s print reflected a deceleration in electricity generation and mining output, while manufacturing production growth edged up.

On a month-on-month basis, industrial production increased 0.48% in seasonally-adjusted terms in July, above June’s 0.36% expansion. Annual average growth in industrial production, meanwhile, edged down from 6.5% in June to 6.4% in July, which was the lowest reading since May last year.

FocusEconomics Consensus Forecast participants expect industrial production to rise 6.4% in 2018, which is unchanged from last month’s forecast. In 2019, the panel sees industrial production growth decelerating to 6.1%.

Author:, Economist

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China Industry Chart

China Industry July 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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