China Industry May 2017


China: Industrial production steadies in May

June 14, 2017

In May, industrial production expanded 6.5% over the same month last year, matching the result in April. May’s print, which slightly overshoot the 6.4% rise that market analysts had expected, mostly reflected stable growth in manufacturing output. Activity in the mining subcomponent rebounded in May, while growth in electricity, gas and water supply eased in the same month.

On a monthly basis, industrial production expanded 0.51% in seasonally-adjusted terms in May, down from April’s 0.55% increase. The trend now is stabilizing, with the annual average growth in industrial production remaining at April’s 6.3% in May.

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%.


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China Industry Chart

China Industry May 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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