>

China's Factory Output Slows in July Amid Weak Domestic Demand

Key Points

• China's factory output rose 5.1% in July compared to the same period last year.
• However, growth has slowed from 5.3% in June.
• Weak domestic demand is contributing to the slowdown.

Industrial Production in China

According to the National Bureau of Statistics (NBS), industrial production in China increased by 5.1% in July 2024 compared to July 2023.

The NBS divides industrial production into three categories:

• Mining
• Manufacturing
• Utilities

In July, the added value of the mining industry increased by 0.6% year-on-year.

Product Sales Rate

The product sales rate of industrial enterprises was 97.8% in July, a year-on-year increase of 0.1 percentage points.