event:
China Industry News reported on May 5th the production and sales of the national machinery industry in the first quarter of this year.
Comments:
In the first quarter of this year, the total industrial output value of the machinery industry was 203.102 billion yuan, a year-on-year increase of 4.54%; the sales value of completed sales was 1,962.602 billion yuan, a year-on-year increase of 3.59%. From the growth rate of total output value and sales value, there was a large decline compared with the same period of last year, which dropped by 24.27 percentage points and 26.82 percentage points respectively. However, the year-on-year growth rate slowed down slightly from January to March, and the growth rate of production and sales increased by 1.64 and 1.48 percentage points respectively from the previous month. The momentum of excessive growth rate has reversed.
However, the growth rate of export export value of the industry continued to decline. From January to March, the export delivery value of the whole industry was 2,249.17 billion yuan, a year-on-year decrease of 21.43%, and the growth rate dropped by 47.70 percentage points. The rate of decline was 2.17 percentage points higher than that in February. The export delivery value accounted for 11.46% of the sales value, which was 3.65 percentage points lower than last year. The growth rate of export delivery value of the 13 major industries in the statistics has declined to varying degrees. The industries with large declines are the automobile industry, construction machinery industry and other civil machinery industries.
Affected by the global financial crisis and changes in domestic and international market demand, the growth rate of production in most industries has dropped significantly. However, the agricultural machinery and heavy mining industry were driven by favorable policies and production growth was outstanding. The first quarter increased by 20.81%. And 20.62%, the growth rate has accelerated from January to February.
Overall, the production and sales situation of the machinery industry is improving. The machinery industry is stabilizing and rebounding better than other manufacturing industries. The pulling effect of the country's policies and measures to expand domestic demand and increase infrastructure investment has begun to appear. We maintain the “overweight†rating of the machinery industry.
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