China Q1 Industrial Capacity Utilization Rate Down to 3-Year Low

The industrial capacity utilization rate in China fell to 74.3 percent in the first quarter of 2023 from 75.8 percent in the same period a year earlier.

This was the lowest level since the March quarter of 2020, reflecting the impact of COVID outbreaks and prolonged tough restrictions.

The utilization rate declined for all sectors, namely mining (75.2 percent vs 77.0 percent in Q1 of 2022), manufacturing (74.5 percent vs 75.9 percent), and electricity, heat, gas, and water (71.9 vs percent vs 73.8 percent).

In the December quarter of 2022, the industrial capacity utilization rate was at 75.7 percent.