China Industry April 2017


China: Industrial production slows in April following March's surge

May 15, 2017

In April, industrial production in China expanded 6.5% over the same month last year, coming in below March’s 7.6% rise. March’s print had represented the fastest acceleration since December 2014. April’s slowdown, which fell short of the 7.0% rise that market analysts had expected, reflected weaker growth in manufacturing output and in electricity, gas and water supply activities. Conversely, the mining subcomponent declined at a softer pace in the same month.

On a monthly basis, industrial production expanded 0.56% in seasonally-adjusted terms in April, down from March’s 0.80% increase. The trend now is pointing upward, with the annual average growth in industrial production stabilizing at last month’s 6.3% in April.

For 2017, FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.0%, which is unchanged from last month’s projection. In 2018, the panel sees industrial production growth falling to 5.5%.

Author: Ricard Torné, Lead Economist

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China Industry Chart

China Industry April 2017

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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