China's value-added industrial output, an important economic indicator, expanded 4.8 percent year-on-year in July, the National Bureau of Statistics or NBS said on Wednesday.
The growth rate was 1.5 percentage points lower than that recorded in June, according to the NBS.
On a monthly basis, the industrial output edged up 0.19 percent from June.
In the first seven months, industrial output climbed 5.8 percent from one year earlier, with the pace of growth decelerating from 6 percent registered during the first half of the year, the NBS data showed.
Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan or about $2.8 million.
A breakdown of the data showed the production and supply of electricity, thermal power, gas and water reported a year-on-year growth of 6.9 percent in July, the fastest among the three major sectors and accelerating 0.3 percentage points from June.
Manufacturing output rose 4.5 percent year-on-year, down from 6.2 percent in June, and output growth of the mining sector eased to 6.6 percent from 7.3 percent in June.
High-tech manufacturing maintained fast expansion, with its output increasing 6.6 percent last month.
China’s value-added industrial output expanded 6 percent year-on-year in the first half.
The growth rate was 0.5 percentage points lower than that recorded in the first quarter of the year, the National Bureau of Statistics said in a statement.
In June alone, industrial output increased 6.3 percent year-on-year, 1.3 percentage points faster than that registered in May.
In the January-June period, industrial output of high-tech manufacturing accounted for 13.8 percent of the overall industry, 0.8 percentage points higher compared with a year ago.
The value-added output of new energy vehicles and solar cells grew 34.6 percent and 20.1 percent, respectively.
China’s value-added industrial output is used to measure the output of large companies each with annual main business revenue of more than 20 million yuan or about $2.9 million.
(Source:ourjiangsu.com)
