China Industry August 2017

China

China: Industrial production slows to eight-month low in August

September 14, 2017

In August, industrial production expanded 6.0% over the same month last year, below the 6.4% expansion in July and the weakest reading since December 2016. August’s result, which undershot the 6.6% rise that market analysts had expected, reflected worse dynamics in two of the three subcomponents of industrial production—mining and electricity, gas and water supply—the latter of which remained in contractionary territory for the third consecutive month. In contrast, growth in manufacturing accelerated in August.

On a monthly basis, industrial production expanded 0.46% in seasonally-adjusted terms in August, up from July’s 0.41% increase. The trend was stable in August, with the annual average growth in industrial production staying at 6.5% for the third month in a row.

For 2017, FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.6%. In 2018, the panel sees industrial production growth falling to 5.8%, which is up 0.1 percentage points from last month.


Author:, Economist

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China Industry August 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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