China Industry August 2019


China: Plunge in industrial production continues in August

September 16, 2019

Industrial production increased 4.4% year-on-year in August, down from July’s 4.8% expansion. August’s print undershot analysts’ expectations of a 5.2% rise and marked the weakest expansion since February 2002.

The reading reflected slowdowns in all main subcategories of the index, especially in energy generation and mining output.

On a month-on-month basis, industrial production increased 0.32% in seasonally-adjusted terms in August, up from the 0.19% increase in July. Annual average growth in industrial production, meanwhile, edged down to 5.7% in August from July’s 5.8%.

FocusEconomics Consensus Forecast participants expect industrial production to rise 5.9% in 2019, which is unchanged from the previous month’s forecast. In 2020, the panel sees industrial production growth decelerating to 5.7%.

Author: Ricard Torné, Lead Economist

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China Industry Chart

China Industry August 2019

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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