China Industrial Output Falls Below Forecasts in August
(MENAFN) China’s industrial output expanded by 5.2% year-over-year in August, falling short of market expectations of 5.7%, according to official data released on Monday. This marks a slowdown from July’s growth rate of 5.7%.
The figures revealed sector-specific performance: mining value added rose 5.1%, manufacturing increased by 5.7%, while production and supply of electricity, heat power, gas, and water grew by 2.4% compared to the same period last year.
For the first eight months of the year, the total value added by industrial enterprises above the designated size rose 6.2% year-on-year.
August’s Manufacturing Purchasing Managers’ Index (PMI) registered at 49.4%, up slightly by 0.1 percentage points from July.
Despite this, profits for industrial enterprises above the designated size totaled 4 trillion yuan ($561.5 billion) during January to August, marking a 1.7% decline compared to the same period last year.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
