China Industrial Production

Industrial production in China advanced 3.8 percent year-on-year in November 2021, accelerating from a 3.5 percent rise in the previous month and beating market forecasts of a 3.6 percent gain, helped by a recovery in energy production and a moderation in raw materials prices. By industry, production grew for electrical machinery and equipment manufacturing (9.4 percent vs 5.3 percent), general equipment (2.8 percent vs 1.0 percent), agriculture and food processing industry (7.0 percent vs 3.3 percent), communication (13.5 percent vs 14.0 percent), and electricity and heat production and supply industries (10.1 percent vs 10.7 percent). Meanwhile, output dropped for vehicles (-4.7 percent vs -7.9 percent), textiles (-3.5 percent vs -5.9 percent) and non-metal minerals (-4.0 percent vs -4.1 percent). For the first eleven months of the year, industrial production grew 10.1 percent year-on-year.