Machinery industry is expected to pick up moderately in 2013

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China Drying News reported on the 11th from the China Federation of Machinery Industry that the toughest days in the machinery industry may have passed. In 2012, it is still expected to achieve double-digit growth. In 2013, the industry is expected to recover modestly.

The federation stated that the difficulties in the economic operation of the machinery industry increased sharply in 2012, and the growth of major economic indicators continued to fall rapidly in 2011. The industry has continued to grow from the “10th Five-Year” and “Eleventh Five-Year” periods to nearly ten. The rapid growth period of the year has entered the period of low-to-medium-term growth.

According to data from the Federation, from January to October 2012, the total industrial output value of the machinery industry totaled 14.9 trillion yuan, an increase of 11.91% year-on-year. The growth rate was the lowest in nearly 10 years (excluding 2009), and it was lower than the growth rate in 2011. 13%. At the same time, other five major economic indicators such as industrial added value, profits, exports, product output, and fixed asset investment have all declined.

However, the federation believes that the decline in the growth rate of the machinery industry has basically bottomed out, and it is unlikely that the apparent decline will continue in the future. The fourth quarter of 2012 continued to operate at the bottom speed. The whole year is expected to show the pattern of “early slide bottoming out, late low level stabilization or slight recovery”. The person in charge of the Federation stated that although the growth rate of the major economic indicators has significantly declined from that of 2011, it is expected to achieve double-digit growth throughout the year. “The growth rate of production and sales is expected to be around 14%; the profit growth is expected to be around 5%; the export growth is expected to be around 10%.”

He said that some of the leading indicators in the machinery industry have shown positive signals and indicate that the machinery industry has shown good signs of economic performance. This positive factor, which includes innovation-driven innovation and transformation and upgrading, is a structural one. Well, it is worth our looking forward to.

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