China Industry

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China: Industrial production slows in October

November 13, 2014

In October, industrial production expanded 7.7% over the same month last year, which was below the 8.0% increase recorded in the previous month. The increase tallied in October undershot the 8.0% expansion that market analysts had expected and mainly reflected weaker growth in manufacturing. Conversely, electricity, gas and water supply inched up in October, while mining accelerated.

On a monthly basis, industrial production expanded 0.52% in seasonally-adjusted terms, which was down from the 0.90% increase tallied in September. As a result of the weak growth observed in October, the trend continues to point downward; annual average growth in industrial production ticked down from the previous month’s 8.9% to 8.7%, which marks the lowest print that has been recorded since September 2009.

For 2014, FocusEconomics Consensus Forecast panelists expect industrial production to grow 8.8%, which is down 0.1 percentage points from last month’s projection. In 2015, the panel sees industrial production growth declining to 8.6%, which is also down 0.1 percentage points over the previous month’s estimate.


Author: Ricard Torné, Head of Economic Research

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