China Q1 Industrial Capacity Utilization Rate Lowest in 4 Years

The industrial capacity utilization rate in China declined to 73.6 percent in the first quarter of 2024 from 74.3 percent in the same period a year earlier.

It was the lowest industrial capacity utilization rate since the first quarter of 2020, as all sectors contracted: electricity, heat, gas, and water (71.2 percent from 71.9 percent in Q1 of 2023), mining (75.0 percent vs 75.2 percent), and manufacturing (73.8 percent vs 74.5 percent).

In the December quarter, the industrial capacity utilization rate was at 75.9 percent.

Last year, the industrial capacity utilization rate eased slightly to 75.1% from 75.6% in 2022.