China's industrial output up 5.7% in July

China's value-added industrial output expanded 5.7 per cent year-on-year in July, official data showed on Friday.

The growth slowed from a 6.8 per cent rise in June, according to data released by the National Bureau of Statistics.

According to China Daily, in the first seven months of this year, China's industrial output increased by 6.3 per cent compared to the same period last year.

The industrial output is used to measure the activity of large enterprises, each with an annual main business turnover of at least 20 million yuan (about US$2.8 million).

A breakdown of the data showed that the manufacturing sector's value-added output increased by 6.2 per cent year-on-year in July, while that of mining grew by 5 per cent. The value-added output of the electricity, heat, gas, water production and supply sector rose by 3.3 per cent.

The production of new energy vehicles, integrated circuits, and industrial robots surged 32.9 percent, 10.4 per cent and 32.9 per cent year-on-year from January to July, respectively.

Friday's data also showed that the country's retail sales of consumer goods, a significant indicator of the country's consumption strength, expanded 4.8 percent year-on-year in the first seven months, while fixed-asset investment rose 1.6 percent.

WAM