According to the latest data analysis of the China Investment Consulting Machinery Industry Research Department, the cumulative output value of China's machinery industry in the first two months of 2009 was 1972.28 billion yuan, a year-on-year decrease of 5.82%, and the growth rate dropped by 25.56 percentage points over the same period of the previous year.
Among the major industries that declined: food packaging industry (down 48.62% year-on-year), cultural office industry (down 37.90% year-on-year), instrumentation industry (down 15.96% year-on-year), automobile industry (down 15.09% year-on-year) and other civil machinery industries (down 11.93% year-on-year).
In addition, the cumulative export delivery value of the national machinery industry in January-February 2009 was 145.355 billion yuan, a year-on-year decrease of 19.26%, and the growth rate dropped by 40.18 percentage points year-on-year. The growth rate declined rapidly. At the same time, the value of export delivery accounted for the proportion of sales value (12.64%), also decreased by 3.68 percentage points. According to the industry, the export delivery value of 7 industries decreased to different degrees year-on-year. Only the agricultural machinery, internal combustion engine and heavy mining industry showed a slight increase year-on-year, with an increase of 1.61%, 3.70% and 5.45% respectively.
From January to February, the production and sales rate of machinery products in the whole industry also decreased by 96.50%, which was 0.75 percentage points lower than the previous year's 97.25%. At the same time, it was lower than the national industrial product sales rate (97.20%) by 0.7 percentage points.
Duan Jiaxuan, a mechanical industry analyst at China Investment Consulting, believes that the impact of the international financial crisis on the machinery industry is relatively lagging. In 2008, the total output value of China's machinery industry reached 907.4 billion yuan, with production and sales increasing by 23.43% and 23.26% respectively. But the data in the first two months of 2009 has proved the destructive power of the economic crisis. Therefore, the market for the next four or five months will continue to decline. As the effectiveness of various national economic policies gradually emerges, the machinery industry will rise again in the second half of the year, and it is expected to continue to achieve double-digit growth throughout the year.
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