The National Bureau of Statistics (NBS) reported that China’s value-added industrial output increased by 4.5 per cent year over year (YoY) in August, demonstrating the country’s steady increase in industrial output. In August, it increased by 0.32 per cent month over month (MoM).
Over the first eight months of this year, value-added industrial output expanded consistently by 5.8 per cent YoY, with an annual primary business turnover of at least 20 million yuan (US $ 2.82 million).
A press release stated that YoY growth were seen in over half of the goods and over four-fifths of the industries.
State-run media reported that Liu said the industrial sector’s export delivery value grew 6.4 per cent YoY in August, indicating that it was still growing rapidly.
While the output of electronic and communication equipment had double-digit year-over-year growth for ten consecutive months, or a 54 per cent gain, the production of new energy vehicles climbed by 30.5 per cent last month.
Furthermore, according to the statistics, retail sales of consumer goods rose 2.1 per cent year over year in August.