China's industrial output up 19.4% in March

China’s industrial output up 19.4% in March

The growth in China's industrial production is recorded as 19.4% in March. This increase is forcing government to take further measures to slowdown Asia's second largest economy. Based on the data released by National Bureau of Statistics, factory output amounted to Yuan 426.5 billion (approx. $52 billion) in the first two months of 2004, with an increase of 17%. Chinese government is struggling to slowdown the investments in steel, cement, aluminum and other industries as the capacity may surpass the demand. Investment expansion was the main driver of production growth in the first quarter. Steel output soared by 29.5% in the first three months of this year compared to same period of last year while cement manufacturing equipment surged by 59%. In January-March 2004 period, industrial production increased by 17.7% to Yuan 1.13 trillion (approx. $136.5 billion).