The growth of industrial added value in September falls to 10.2% from 10.4% of the last month, and the growth of quarterly adjustment reaches 0.72% year on year, falling 0.2% compared with the last month, which indicates that the growth of industrial added value has experienced a fall besides base factor.
There exists a differentiation in the growth of added value of main industries. The growth of added value of part industries has experienced a slight fall in September, such as smelting and pressing of ferrous metals, production and supply industry of power and heating power, electrical machinery and equipment manufacturing, while the fall of growth of added value of production and supply industry of power and heating power accords with expectation.
In September, power consumption of residents decreases with the weather getting warm, meanwhile, the fall of industrial demand also drives the fall of industrial power consumption. However, the growth of automobile, railway, shipping, aerospace, other delivery equipment manufacturing, universal equipment manufacturing, etc. has experienced an obvious rise. The rise of added value of automobile industry is mainly driven by the good sales performance of automobile.
Month-on-Month Growth of Industrial Added Value