Growth of industrial output slows down

Updated: 2006-11-15 14:51

The output of China's large industrial enterprises grew 14.7 percent in October, down 1.4 percentage points from both September and the same period of last year.

The figures released on Wednesday by the National Bureau of Statistics in its monthly update show China's industrial output growth fell for four consecutive months from a ten-year high of 19.5 percent in June.

Analysts said the slowdown in industrial production helped cool China's economy which surged to 11.3 percent in the second quarter and then slowed to 10.7 percent for the first nine months.

Large industrial enterprises with a sales revenue higher than 5 million yuan (US$637 million) generated a total output of nearly 7 trillion yuan from January to October, up 16.9 percent year-on-year.

About 98.44 percent of their production was sold in October, up 0.61 of a percentage point over the same period last year. Their exports generated a total value of 539.7 billion yuan, up 22.2 percent.

In a separate release on Monday, the administration said China's consumer price index (CPI), the key inflation index, rose 1.3 percent in the first nine months, 0.7 of a percentage lower than the same period last year.

Despite the lower CPI and slower industrial production growth, China's central bank still warned against inflationary pressures.

(For more biz stories, please visit Industry Updates)

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