China: Industrial production growth slows in March
April 17, 2018
Industrial production grew 6.0% in annual terms in March, down from the 7.2% expansion recorded in the January–February period and falling short of market expectations of a 6.2% rise. The National Bureau of Statistics of China releases combined data for January and February to smooth out distortions caused by the Lunar New Year.
The deceleration in industrial output came on the back of a contraction in mining output, while electricity generation growth slowed markedly. Manufacturing output also moderated in March.
On a month-on-month basis, industrial production expanded 0.33% in seasonally-adjusted terms in March, down from 0.57% growth in February. Annual average growth in industrial production edged down to 6.5% in March from 6.7% in February.
China Industrial Production Forecast
FocusEconomics Consensus Forecast participants expect industrial production to rise 6.2% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel sees industrial production growth decelerating to 5.9%.
Author: Lindsey Ice, Economist