INSIGHTS
- In April 2023, China’s manufacturing sector saw a YoY rise of 6.5%, while value-added industrial production increased by 5.6%.
- The nation’s value-added industrial production increased by 3.6% in the first quarter of 2023.
- The production of state-controlled businesses increased by 6.6%, while the private sector expanded by 1.6%.
The National Bureau of Statistics (NBS) reports that China’s industrial production increased significantly in April 2023, rising by 6.5% year-over-year (YoY). In addition, a crucial economic indicator known as value-added industrial output increased by 5.6% over the same time frame, which represents a growth rate that was 1.7 percentage points higher than March’s result.
Throughout April, industrial production was fairly constant. Value-added industrial output increased by 3.6% in the first four months of 2023, accelerating by 0.6 percentage points from the first quarter.
According to Chinese media estimates, there were differences in growth according to ownership type, with state-controlled businesses reporting a 6.6% increase in production while the private sector had more moderate growth of 1.6%.
