China's industrial output grows 9.7% in 2013

Industrial output in China grew 9.7 percent in 2013 from a year ago, the National Bureau of Statistics (NBS) announced on Monday. The figure marks a deceleration from the 10-percent growth seen in 2012. Monday's data also showed industrial output expanded 9.7 percent year on year in December, a drop of 0.3 percentage point compared to growth in November. Industrial output is a major indicator for economic activities in 41 industries. Since 2011, the data only covers companies each with at least an annual business revenue of 20 million yuan (3.27 million U.S. dollars). For the whole of 2013, major sectors all saw a year-on-year rise, with the auto industry becoming the top gainer by surging 14.9 percent, after record sales of 21.98 million vehicles. Chemical products manufacturing gained 12.1 percent, while non-metal minerals production grew 11.5 percent, the data showed. Computers, telecom and electronic products increased 11.3 percent, ferrous metals went up 9.9 percent and cement grew 9.6 percent. Textiles grew 8.7 percent, while crude steel expanded 7.5 percent, data showed. In December, industrial activities were the most robust in the country's western regions with a surge of 11.3 percent, followed by 10.5 percent in the central areas and 8.9 percent in the more developed eastern regions, the data showed. Industrial output measures the final output value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labor costs.