China’s Minister of Industry says the nation’s industrial output is expected to grow 11 percent for 2012, easing from an estimated 13.9 percent in 2011.

Industrial output growth, which covers enterprises with a minimum annual revenue of 20 million yuan, or 3.2 million dollars, is closely correlated with the country’s GDP growth.

China’s industrial sector has been losing steam in recent months, with annual industrial output growth falling to 12.4 percent in November. That’s from the year’s high of 15.1 percent in June.

The industry minister says China would try to cut energy consumption for every yuan of industrial output by five percent in 2012, and cut water consumption by seven percent. China’s latest five-year plan targets an average annual GDP growth rate of seven percent over the five-year period, with industrial output targeted at 10 percent.