Chinese 2016 GDP Growth and Steel Output

Economy, Steel

China’s GDP grew by 6.7% year-on-year in 2016, according to the country’s National Bureau of Statistics down from 6.9% in 2015 but in line with the government’s official target of growth of 6.5-7%.

Chinese crude steel output expanded by 3.2% year-on-year in December to 67.2 Mt, the tenth consecutive month output has increased on an annual basis. As a result, the country’s steel production increased by 1.2% annually in 2016 to 808.4 Mt, although this is still below output in 2014.