(Yicai Global) Nov. 15 -- China’s industrial production increased last month for the first time this year, according to official figures.

Value-added industrial output at businesses with annual turnover of more than CNY20 million (USD3.1 million) rose 3.5 percent in October from a year ago after adjusting for inflation, data released by the National Bureau of Statistics showed today. The figure was 3.1 percent in September.

From January to October, value-added industrial output jumped 10.9 percent from the same period last year, with an average two-year increase of 6.3 percent.

Factory activity slowed in the third quarter due to Covid-19, floods, and a shortage of some energy raw materials, according to NBS spokesman Fu Linghui. With the easing of short-term and restrictive factors as well as greater efforts to guarantee supply and stabilize prices, industrial production has picked up since October, he added.

By sector, 28 of 41 had year-on-year growth in value-added industrial output last month, 10 more than in the previous month. Output of 288 of 590 industrial products rose faster, 117 more than in September.

The computers, communications and other electronic equipment sector expanded 14 percent, while power and heat production and supply rose 10.7 percent. But the ferrous metal smelting and rolling processing industry slumped 12.8 percent.

The purchasing managers’ index for manufacturing was 49.2 percent last month, per data released earlier this month. The PMI for high-tech manufacturing and equipment production was 52 percent and 51.2 percent, respectively, indicating that the high-tech industry has perked up.

The international environment remains complicated, commodity prices are rising, and structural and short-term problems in China are serious, Fu said. So companies are facing higher costs and much effort is needed for the stable recovery of industrial production.

Editor: Peter Thomas