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China's Industrial Growth Slows
China's industrial growth slowed from August to September, official figures showed Tuesday. According to the National Bureau of Statistics (NBS), industrial output grew by 12 percent in September over the same month of last year, 0.8 percentage points lower than in August.
The industrial added value in September was 209.3 billion yuan. The total industrial output for the first nine months of the year was 1,706.1 billion yuan, increasing 11.6 percent over the same period of last year.
In September, the year-on-year growth of output of heavy industry dropped by 0.5 percentage points from August to 14.4 percent. The growth of the output of light industry dropped by 1.5 percentage points from August to 8.8 percent.
Exports of industrial products also saw a slower growth rate in September, which dropped 1.5 percentage points to 25.1 percent from the year-on-year figure in August.
NBS said that the slowdown in export growth was due to the relatively high speed in the same period of last year when exports recovered quickly from the trough earlier last year.
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