China Industrial Production y/y
China Industrial Production y/y reflects the rate of growth of value added of industrial products manufactured in the given month compared to the same month of the previous year. The indicator is also known as the output growth rate.
The following components are used for evaluating industrial production:
- sales ratio (the ratio between sold and manufactured products);
- export supply costs (this component refers to exports);
- daily production;
- annual output growth rate.
Calculation is based on data received from companies with the annual turnover at least 20 mullion yuan. Enterprises are divided into geographical regions and industry sections. The three main sectors of Chinese industry include mining, manufacturing and energy.
The indicator is used for evaluating the current state of production and near-term outlook, as well as for analyzing the economy expansion scale. Production remains the largest part of Chinese export, therefore the indicator is used by Chinese government in the development and adjustment of national economic policy.
Industrial production growth indicates an increase in the economy activity level and affects national GDP positively. Therefore, the value growth can be seen as positive for yuan quotes.
The chart of the entire available history of the "China Industrial Production y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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