FX.co ★ China Industrial Output Growth at 14-Month Low

In October 2025, China's industrial production experienced a year-on-year growth of 4.9%, a noticeable deceleration from September's three-month peak of 6.5% and falling short of the expected 5.5%. This represented the most modest increase in industrial production since August 2024, primarily because of slower growth in manufacturing (4.9% compared to September's 7.3%) and mining (4.5% compared to 6.4%) attributed to the Golden Week holiday. However, production in sectors such as electricity, heat, gas, and water saw an acceleration, up by 5.4% from 0.6%. Within the manufacturing sector, 29 out of 41 major industries experienced growth, including notable increases in automotive (16.8%), computers and communications (8.9%), railway and shipbuilding (15.2%), ferrous metal smelting and rolling (1.4%), non-ferrous metal smelting and rolling (3.7%), chemical products (7.1%), coal mining and washing (6.5%), oil and gas (1.9%), food manufacturing (2.5%), heat production (5.9%), and textiles (0.2%). For the first ten months of the year, industrial production saw a cumulative increase of 6.1%. On a monthly basis, industrial output grew by 0.17%.