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Shanghai’s economy records steady expansion in November
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SHANGHAI’S economic growth in November was steady, with increases in industrial output, consumer prices and transport activity, according to data from Shanghai Statistics Bureau.
The value of total output of industrial enterprises above a designated size grew 1.3 percent in November from the same month last year to 310.78 billion yuan (US$47.16 billion).
November’s industrial sales-output ratio edged up 0.8 percentage point from that of the same month in 2016 to 99 percent. But the value of exports of industrial companies in Shanghai dropped 4.7 percent to 67.21 billion yuan.
Shanghai’s six key industrial sectors produced a total output of 214.97 billion yuan, up 1.1 percent from November last year.
The output of automobile manufacturing last month grew fastest by 11.8 percent to 67.33 billion yuan while the production of complete equipment manufacturing rose 2.8 percent. The output of petrochemical and fine chemicals sectors rose 2.5 percent year on year, while the other three sectors posted a fall in output.
The city’s Consumer Price Index, a main gauge of inflation, rose 1.2 percent in November year on year, and grew 1.7 percent annually from January to November.
Transport of goods in November expanded 10.2 percent annually to 82.73 million tons.
Cargo throughput at Shanghai port grew 6.5 percent annually to nearly 64.2 million tons from November 2016. Container traffic jumped 11.8 percent to 3.6 million TEUs (twenty-foot equivalent units) last month.
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