China's industrial output grows 5.2% in August, slows from July

The manufacturing led the expansion with a 5.7 per cent rise, while mining output grew 5.1 per cent and utilities—covering electricity, heat, gas and water—advanced 2.4 per cent.

Equipment manufacturing and high-tech sectors stood out with growth of 8.1 per cent and 9.3 per cent respectively, outpacing the broader industrial average.

In terms of sectors, the value added of manufacturing up by 5.7 per cent, and the production and supply of electricity, heat power, gas and water up by 2.4 per cent.

The value added of equipment manufacturing increased by 8.1 per cent YoY and that of high-tech manufacturing increased by 9.3 per cent, 2.9 percentage points (pps) and 4.1 pps faster than that of the industrial enterprises above the designated size respectively.

In the first eight months, the total value added of the industrial enterprises above the designated size went up by 6.2 per cent YoY, NBS said in a release.

In August, the Manufacturing Purchasing Managers’ Index (PMI) was 49.4 per cent, 0.1 pps higher than that of the previous month; the production and operation expectation Index was 53.7 per cent, up by 1.1 pps. In the first seven months, the total profits made by industrial enterprises above the designated size were 4,020.4 billion yuan, down by 1.7 per cent YoY.

ALCHEMPro News Desk (SG)