Industrial production slows
By Winny Wang |
June 12, 2010, Saturday
|
Print Edition
Print Edition
WEAKER heavy industry slowed China's industrial production growth in May because of the gradual exit of infrastructure-focused stimulus policies and last year's high base.
Urban fixed-asset investment growth decelerated 0.2 percentage point in the first five months to 25.9 percent due to reduced lending and tighter credit.
China's industrial production expanded 16.5 percent last month on a yearly basis, slowing from a 17.8 percent increase in April, the National Bureau of Statistics said.
Production of heavy industry grew 17.8 percent in the period, compared with a 19.4 percent increase in April, and light industry expanded 13.6 percent, after 14.1 percent in April.
"Industrial production in China remains strong, but there are obvious signs of deceleration. Year-to-date industrial production has slowed each month since February, as investment and production naturally ebbs after the spike in 2009 and in response to gradual tightening measures," said Matt Robinson, a Moody's Economy.com analyst.
Auto makers produced 1.46 million vehicles in May, up 26.6 percent from a year earlier after a 34.6 percent increase in April. Car production expanded 21.5 percent to 719,000 units after 36.9 percent growth in April.
Electricity output increased 18.9 percent to 340.5 billion kilowatt-hours, and crude steel output gained 20.7 percent to 56.14 million tons.
In the first five months, industrial production grew 18.5 percent from a year earlier, compared with 19.1 percent in the first four months.
Urban fixed-asset investment in the first five months rose an annual 25.9 percent to 6.7 trillion yuan (US$981 million). Real estate development and investment totaled 1.39 trillion yuan, up 38.2 percent.
Urban fixed-asset investment growth decelerated 0.2 percentage point in the first five months to 25.9 percent due to reduced lending and tighter credit.
China's industrial production expanded 16.5 percent last month on a yearly basis, slowing from a 17.8 percent increase in April, the National Bureau of Statistics said.
Production of heavy industry grew 17.8 percent in the period, compared with a 19.4 percent increase in April, and light industry expanded 13.6 percent, after 14.1 percent in April.
"Industrial production in China remains strong, but there are obvious signs of deceleration. Year-to-date industrial production has slowed each month since February, as investment and production naturally ebbs after the spike in 2009 and in response to gradual tightening measures," said Matt Robinson, a Moody's Economy.com analyst.
Auto makers produced 1.46 million vehicles in May, up 26.6 percent from a year earlier after a 34.6 percent increase in April. Car production expanded 21.5 percent to 719,000 units after 36.9 percent growth in April.
Electricity output increased 18.9 percent to 340.5 billion kilowatt-hours, and crude steel output gained 20.7 percent to 56.14 million tons.
In the first five months, industrial production grew 18.5 percent from a year earlier, compared with 19.1 percent in the first four months.
Urban fixed-asset investment in the first five months rose an annual 25.9 percent to 6.7 trillion yuan (US$981 million). Real estate development and investment totaled 1.39 trillion yuan, up 38.2 percent.
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