Industry in China
China - Industry
Industrial output records lowest growth since March 2020 in September
Industrial output grew 3.1% compared to the same month of the previous year in September, which followed August's 5.3% increase. September's result marked the worst reading since March 2020. Looking at the details of the release, manufacturing production softened in September amid power shortages and government restrictions on heavy industry, while energy output accelerated.
On a monthly basis, factory output recorded 0.1% growth in seasonally-adjusted terms in September, which was below August’s 0.3% expansion and marked the worst result since February 2020. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at plus 12.3% in September, down from August's 12.6%.
FocusEconomics Consensus Forecast participants expect industrial production to rise 5.2% in 2022, which is down 0.1 percentage points from the previous month’s forecast. In 2023, the panel sees industrial production growth at 5.3%.
China - Industry Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 6.1 | 6.0 | 6.6 | 6.2 | 5.7 |
China Industry Chart
Source: National Bureau of Statistics of China and FocusEconomics calculations.
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.17 | -0.40 % | Dec 31 |
| Exchange Rate | 6.96 | -0.19 % | Jan 01 |
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Economic News
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China: Industrial output records lowest growth since March 2020 in September
October 18, 2021
Industrial output grew 3.1% compared to the same month of the previous year in September, which followed August's 5.3% increase.
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China: Nominal fixed investment records slowest expansion since December 2020 in September
October 18, 2021
Nominal urban fixed asset investment grew 7.3% in year-to-date terms in September, which was a deterioration from August's 8.9% increase.
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China: Retail sales growth gains steam in September
October 18, 2021
Retail sales expanded 4.4% year-on-year in September (August: +2.5% yoy).
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China: Merchandise exports increase in September
October 13, 2021
Merchandise exports soared 28.1% year-on-year in September, on the heels of August’s 25.6% upturn and overshooting market expectations.
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China: Credit growth eases further in September
October 13, 2021
In September, Chinese banks distributed CNY 1.7 trillion (roughly USD 260 billion) in new yuan loans, up from August’s 1.2 trillion figure. Annual growth in M2 money supply edged up from 8.2% in August to 8.3% in September, while annual growth in the stock of total social financing (TSF)—a broader measure of credit and liquidity in the economy that includes loans, bonds and other non-traditional instruments—was down from 10.3% to 10.0%.
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