Replies to post #44350 on Zeev's Turnips Patch-No Politics (ZEEV)

[phill]

China's Industrial Output Rose 14% in October on Export Goods

Mon Nov 11,12:49 AM ET
By Andrew Batson
Dow Jones Newswires

BEIJING -- Growth in China's industrial output continued to accelerate in October, official figures issued Monday show, in another sign the Chinese economy is picking up speed toward the end of the year.

Value-added industrial output, China's benchmark measure of manufacturing production, rose 14.2% on year in October to 283 billion yuan ($34.18 billion), the State Statistics Bureau said in a statement. During the first 10 months of 2002, output increased 12.3% to 2.53 trillion yuan. Market expectations had centered on a 13.4% rise in October.

In its statement, the bureau said telecommunications-equipment manufacturing and the chemical industry were the main contributors to the fast growth. Output by foreign-invested companies was also strong, it said. Monthly growth in China's industrial output has been in double digits all year, powered by strong demand for the country's exports -- especially of electronics and telecommunications equipment. In September, output growth picked up even further to 13.8%.

Export demand continued to contribute to China's output growth in October, with production for export surging 28.6% to 181.8 billion yuan, the bureau said.

It also noted that automobile output rose 54% on-year to 319,000 units in October. Output of optical-communications equipment and computers surged by more than 100% in the month, the bureau said without giving exact figures.

-By Andrew Batson, Dow Jones Newswires; 8610 6588-5848; andrew.batson@ dowjones.com