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Output posts slow gain
By Winny Wang |
August 10, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S manufacturers reported their output grew at a slower pace last month but an analyst forecasts that the decline may halt as the market has almost digested all inventories and this might lead the government to loosen its credit stance.
The growth of urban fixed-asset investments also moderated but funds going into property continued to increase, the National Bureau of Statistics said yesterday.
Industrial output gained 14 percent in July from a year earlier, slower than the 15.1-percent increase in June and market consensus of 14.6 percent.
Heavy industry output jumped 14.5 percent last month versus a 15.6-percent gain in June, and light industry output eased to 12.8 percent from a 13.9-percent growth, the bureau said.
"The moderation in the industrial production growth is ending soon as the market has digested almost all the inventories," said Xu Weihong, an analyst at Guodu Securities Co.
The government should therefore ease its tightening stance to avoid pulling the economy lower especially as the global recovery seems to be sputtering, Xu said.
Steel production gained 14.9 percent to 75.72 million tons. Power output rose 13.2 percent to 425.2 billion kilowatt hours, compared with the 16.2-percent surge in June. Auto output dipped 1.3 percent to 1.32 million units in July from a 3.6-percent recovery in June.
In the first seven months, urban fixed-asset investments jumped an annual 25.4 percent to 15.24 trillion yuan, slightly slower than a 25.6 percent increase in June.
Property investments soared 33.6 percent annually to 3.19 trillion yuan through July, faster than a 32.9 percent gain through June.
The growth of urban fixed-asset investments also moderated but funds going into property continued to increase, the National Bureau of Statistics said yesterday.
Industrial output gained 14 percent in July from a year earlier, slower than the 15.1-percent increase in June and market consensus of 14.6 percent.
Heavy industry output jumped 14.5 percent last month versus a 15.6-percent gain in June, and light industry output eased to 12.8 percent from a 13.9-percent growth, the bureau said.
"The moderation in the industrial production growth is ending soon as the market has digested almost all the inventories," said Xu Weihong, an analyst at Guodu Securities Co.
The government should therefore ease its tightening stance to avoid pulling the economy lower especially as the global recovery seems to be sputtering, Xu said.
Steel production gained 14.9 percent to 75.72 million tons. Power output rose 13.2 percent to 425.2 billion kilowatt hours, compared with the 16.2-percent surge in June. Auto output dipped 1.3 percent to 1.32 million units in July from a 3.6-percent recovery in June.
In the first seven months, urban fixed-asset investments jumped an annual 25.4 percent to 15.24 trillion yuan, slightly slower than a 25.6 percent increase in June.
Property investments soared 33.6 percent annually to 3.19 trillion yuan through July, faster than a 32.9 percent gain through June.
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