China’s Industrial Growth Falls Below Expectations
(MENAFN) China’s industrial output expanded by 5.2% year-on-year in the previous month, falling short of the market prediction of 5.7%.
Official statistics released on Monday revealed that the pace of industrial growth declined compared with the 5.7% recorded in July.
Breaking down by sector, the added value of mining increased by 5.1%, manufacturing climbed by 5.7%, while the production and distribution of electricity, thermal energy, gas, and water rose by 2.4% during the same timeframe.
From January to August, the combined added value of large-scale industrial firms — those above the designated threshold — expanded by 6.2% compared to the previous year.
In August, the Manufacturing Purchasing Managers’ Index (PMI) reached 49.4%, showing a 0.1 percentage point rise from the preceding month.
During the first eight months of the year, the cumulative profits of sizable industrial companies amounted to 4 trillion yuan ($561.5 billion), marking a 1.7% annual decline.
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