China's industrial production rose 6.9 percent year-on-year in December 2019, accelerating from a 6.2 percent increase in the previous month and easily beating market consensus of 5.9 percent. This was the sharpest yearly growth in industrial output since March last year, amid government support to prop up demand. By industry, production expanded for chemicals (7.7 percent vs 7.9 percent), non-metal minerals (8.4 percent vs 8.6 percent); ferrous metals (10.7 percent, the same as in November), general equipment (4.9 percent vs 6.2 percent), communication (11.6 percent vs 9.7 percent), machinery (12.4 percent vs 12.6 percent), textile (0.2 percent vs 2.5 percent), and power equipment (7.0 percent vs 6.8 percent). In contrast, transport equipment output slumped 6.8 percent, reversing a 0.1 percent increase in November. Considering full 2019, industrial production grew 5.7 percent from a year earlier. Industrial Production in China averaged 11.94 percent from 1990 until 2019, reaching an all time high of 29.40 percent in August of 1994 and a record low of -21.10 percent in January of 1990. source: National Bureau of Statistics of China
Industrial Production in China is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in China to stand at 5.20 in 12 months time. In the long-term, the China Industrial Production is projected to trend around 5.00 percent in 2020, according to our econometric models.