China Industry


China: Industrial production picks up in December

January 20, 2015

In December, industrial production expanded 7.9% over the same month of the previous year, which was above the 7.2% increase recorded in the previous month. The expansion tallied in December overshot the 7.4% increase that market analysts had expected and represented the strongest rise in three months. December’s improvement mostly reflected faster growth in all of the sub-categories. Manufacturing output recorded the largest expansion, while growth in electricity, gas and water supply accelerated to a six-month high in December.

On a monthly basis, industrial production expanded 0.75% in seasonally-adjusted terms, which was up from the 0.54% increase tallied in November. In the full year 2014, industrial production expanded 8.3%, which was below the 9.7% increase tallied in 2013 and represented the weakest annual growth on record.

For 2015, FocusEconomics Consensus Forecast panelists expect industrial production to grow 8.2%, which is down 0.2 percentage points from last month’s projection. In 2016, the panel sees industrial production growth declining to 7.9%.

Author: Ricard Torné, Head of Economic Research

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China Industry Chart

China Industry December 2014

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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