The overall operation of China's machinery industry in 2018 was within a reasonable range

On the 15th, the China Machinery Industry Federation revealed that in the complex internal and external environment, the overall economic operation of China's machinery industry in 2018 was within a reasonable range, but there was a slowdown in stability and a decrease in stability. The growth rate showed a decline compared to the previous month, and the main indicators need to be monitored.

During this period, the growth rate of added value in China's machinery industry increased month by month in the first half of the year and slowed down month by month in the second half. From January to November 2018, the growth rate of the added value of the mechanical industry slowed down month by month from 8.4% in August, and the year-on-year growth rate decreased to 6.6%, higher than the national industrial added value growth rate.

Secondly, the production of major products increased year-on-year, but the types of year-on-year growth continued to decrease. Among the 120 main products monitored by the mechanical industry from January to November, 62 products saw a year-on-year increase in production, accounting for 51.67%, while 58 products saw a year-on-year decrease in production, accounting for 48.34%.

In addition, economic benefits have maintained growth, but the growth rate has declined. From January to November, the total profit of China's machinery industry increased by 2.27% year-on-year, but decreased by 8.37 percentage points compared to the same period last year.

Especially, there is a significant differentiation among major industries, with a significant decline in the automotive industry. From January to November, the total profit of the automotive industry decreased by 5.87% year-on-year, a decrease of 11.9 percentage points compared to the same period last year, accounting for 42.39% of the machinery industry's profit, a decrease of 3.67 percentage points year-on-year.

The total profit of the non automotive industry increased by 9.22% year-on-year, which is 6.95 percentage points higher than the industry average. Among them, the engineering machinery, petrochemical general, general components, machine tools, and internal combustion engine industries achieved double-digit growth.

Finally, foreign trade continues to grow, but there is uncertainty. The export of mechanical equipment increased by 13.7% year-on-year from January to November; The import of mechanical equipment increased by 21.7% year-on-year.

Overall judgment: In 2018, the growth rate of China's machinery industry's added value and main business revenue was around 7%, with a profit growth of around 2%, and moderate growth in import and export trade.