Insights
- China's manufacturing sector marked a 6.5 per cent YoY growth in April 2023, and the value-added industrial output rose 5.6 per cent.
- In the first four months of 2023, the country's value-added industrial output grew by 3.6 per cent.
- State-controlled enterprises saw a 6.6 per cent increase in output, while the private sector grew by 1.6 per cent.
China's manufacturing output has seen a significant surge, increasing by 6.5 per cent year-on-year (YoY) in April 2023, according to the National Bureau of Statistics (NBS). Additionally, the value-added industrial output, a key economic metric, rose by 5.6 per cent during the same period, marking a growth rate 1.7 percentage points higher than March's figure.
Industrial production remained generally stable throughout April. In the first four months of 2023, the country's value-added industrial output grew by 3.6 per cent, accelerating by 0.6 percentage points compared to the first quarter.
There were disparities in growth by ownership type, with state-controlled enterprises reporting a 6.6 per cent increase in output, while the private sector saw a more modest growth of 1.6 per cent, according to Chinese media reports.
China's manufacturing sector marked a 6.5 per cent YoY growth in April 2023, and the value-added industrial output rose 5.6 per cent.
In the first four months of 2023, the country's value-added industrial output grew by 3.6 per cent.
State-controlled enterprises saw a 6.6 per cent increase in output, while the private sector grew by 1.6 per cent.
Fibre2Fashion News Desk (DP)
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