FX.co ★ China Industrial Output Growth Hits 6-Month High

China’s industrial production grew 5.5% year-on-year in September 2026, up from 5.2% in August and slightly above the market forecast of 5.4%. This marked the fastest pace of industrial output expansion since March.

By sector, output of electricity, heat, gas, and water increased at a quicker rate (5.6% vs 4.9% in August), mining returned to growth (1.3% vs -1.4%), and manufacturing continued to expand solidly (6.0% vs 6.1%).

Within manufacturing, 31 of the 41 major industries recorded gains. Strong growth was seen in computers and communications equipment (16.4%), railway and shipbuilding (11.7%), general equipment (8.5%), special equipment (12.1%), agriculture and food processing (4.1%), oil and gas (9.8%), electrical machinery (8.1%), textiles (3.2%), and automotive (6.7%).

In contrast, output declined in coal mining and washing (-3.3%) and in non-metallic mineral products (-2.4%).

Over the first nine months of 2026, industrial production rose 5.3% year-on-year. On a month-on-month basis, output increased 0.61% in September.