Growth of China's Industrial Production Slows in October

China's industrial value-added output grew 13.2 percent year-on-year in October, down from September's 13.8-percent growth, the National Bureau of Statistics (NBS) said on November 9.

On a monthly basis, output increased by 0.9 percent from September, the NBS said in an online statement.

In the first 10 months, industrial value-added output increased 14.1 percent year-on-year, down 0.1 percentage points from the first nine months.

In October, the industrial value-added output of state-owned and state-held companies grew 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 13.7 percent from one year earlier, while that of the light industry sector climbed 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.

The NBS said that 97.8 percent of industrial enterprises' products were sold in October, 0.3 percentage points lower year-on-year.

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 labor costs.

The NBS also released on Wendesday 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.

Source: Xinhua