China’s industrial production slows in October

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Beijing, Nov 9: China’s industrial output grew by 13.2 percent year-on-year in October, down from September’s 13.8-percent growth, the National Bureau of Statistics (NBS) said Wednesday.

In the first 10 months, industrial value-added output increased by 14.1 percent year-on-year, down 0.1 percentage points from the first nine months, Xinhua reported quoting a statement from the NBS.

In October, the industrial value-added output of state-owned and state-held companies grew by 8.9 percent year-on-year, while that of collectively-owned and joint-stock enterprises expanded by 9.2 percent and 15.1 percent, respectively.

Industrial value-added output for the heavy industry sector rose by 13.7 percent from a year earlier, while that of the light industry sector rose by 12.1 percent.

All 39 of the country’s industrial sectors posted gains in October, with textiles up 8.1 percent; chemical materials and products up 13.1 percent; general equipment manufacturing up 15.8 percent; and transportation equipment manufacturing up 11.3 percent.

Industrial value-added output measures the final output value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labour costs.

The NBS also released Wednesday other economic indicators such as the consumer price index (CPI), fixed-asset investment and retail sales figures.

The CPI, a main gauge of inflation, eased to 5.5 percent in October, softening from 6.1 percent in September, 6.2 percent in August and 6.5 percent in July, the NBS said earlier Wednesday.

IANS