(Yicai Global) April 16 -- China’s big industrial companies increased output last month as factory activity continues to pick up, but by less than expected.

Value-added industrial output at firms with annual turnover of more than CNY20 million (USD3.1 million) rose 14.1 percent in March from a year ago due to the low base last year, the National Bureau of Statistics said today.

Twenty chief economists at major Chinese financial institutions surveyed by Yicai Global had forecast growth of 17.3 percent.

In March 2020, value-added industrial output dropped 1.1 percent. It gained 13.5 percent in February this year. 

In the first quarter, output gained 24.5 percent. Over the past two years, the figure has been rising 6.8 percent on average in the first quarter.

Editor: Emmi Laine