Industrial output climbs by slower 18% in March
By Winny Wang |
April 16, 2010, Friday
|
Print Edition
Print Edition
CHINA'S industrial output grew by a slower 18.1 percent in March on strong domestic demand and a recovery in exports.
Meanwhile, its urban fixed-asset investment growth decelerated modestly to 26.4 percent in the first quarter after the country decided to curb bank lending and overinvestment, the National Bureau of Statistics said yesterday.
Industrial output rose 18.1 percent in March from a year earlier, compared with a 20.7 percent increase in January and February, in line with market consensus of 18.2 percent.
"The robust industrial activity was mainly underpinned by the strong export recovery as can be seen by a 25.7 percent rise in output value for exports from a 22.5 percent increase in January-February,'' said Morgan Stanley in a note.
"Since the extraordinary strength in January-February was partly explained by the extremely low base in the same period of last year, the decline in March should not be interpreted as a setback for industrial activity," said Morgan Stanley.
Car production accelerated 66.7 percent on the back of tax breaks and other incentives for motor vehicle purchases.
Electricity output jumped 17.6 percent in tandem with rapidly expanding production in factories.
Urban fixed-asset investment rose 26.4 percent on an annual basis in the first three months to 2.98 trillion yuan (US$436 million), 2.2 percentage points slower than the same period of last year and 0.2 percentage point slower than the first two months.
Investments in real estate jumped 35.1 percent to 659.4 billion yuan, against 4.1 percent a year earlier.
"Efforts by Chinese authorities to guide bank lending lower and curb overinvestment appear to be having the desired effect, with year-to-date fixed asset investment growth decelerating modestly," said Matt Robinson, an analyst at Moody's Economic.com.
Meanwhile, its urban fixed-asset investment growth decelerated modestly to 26.4 percent in the first quarter after the country decided to curb bank lending and overinvestment, the National Bureau of Statistics said yesterday.
Industrial output rose 18.1 percent in March from a year earlier, compared with a 20.7 percent increase in January and February, in line with market consensus of 18.2 percent.
"The robust industrial activity was mainly underpinned by the strong export recovery as can be seen by a 25.7 percent rise in output value for exports from a 22.5 percent increase in January-February,'' said Morgan Stanley in a note.
"Since the extraordinary strength in January-February was partly explained by the extremely low base in the same period of last year, the decline in March should not be interpreted as a setback for industrial activity," said Morgan Stanley.
Car production accelerated 66.7 percent on the back of tax breaks and other incentives for motor vehicle purchases.
Electricity output jumped 17.6 percent in tandem with rapidly expanding production in factories.
Urban fixed-asset investment rose 26.4 percent on an annual basis in the first three months to 2.98 trillion yuan (US$436 million), 2.2 percentage points slower than the same period of last year and 0.2 percentage point slower than the first two months.
Investments in real estate jumped 35.1 percent to 659.4 billion yuan, against 4.1 percent a year earlier.
"Efforts by Chinese authorities to guide bank lending lower and curb overinvestment appear to be having the desired effect, with year-to-date fixed asset investment growth decelerating modestly," said Matt Robinson, an analyst at Moody's Economic.com.
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