Industrial output growth slows
By Richard Fu |
December 10, 2011, Saturday
|
Print Edition
Print Edition
OUTPUT from Chinese factories rose the least last month in more than two years, official data showed yesterday, as the eurozone debt crisis hurt export demand.
Economists said the weakness showed economic growth was slowing down further, as expectations that China will ease monetary policy gained traction.
The nation's industrial production rose 12.4 percent in November, the least since August 2009 when output grew 12.3 percent, the National Bureau of Statistics said yesterday. Growth was 13.2 percent in October.
Standard Chartered Bank said that on a month-on-month seasonally adjusted annual rate basis, industrial output growth actually slowed to 9.8 percent in November from an average of 12 percent in the previous three months.
The slowdown has been flagged by the Purchasing Managers' Index, which slipped from October's 50.4 to 49 in November. The separate HSBC China Manufacturing PMI, slanted more toward private and export-oriented firms, dropped to 47.7 in November from 51 in October. A reading below 50 indicates contraction.
By product, China produced 60,000 vehicles per day on average in November, down 1.3 percent, the statistics bureau said. Power generation rose 8.5 percent in November year on year, the lowest rate since January, while crude steel output fell 8.8 percent month on month.
Industrial output gained 14 percent in the January-November period. The industry ministry has forecast output to grow 14 percent this year.
Economists said the weakness showed economic growth was slowing down further, as expectations that China will ease monetary policy gained traction.
The nation's industrial production rose 12.4 percent in November, the least since August 2009 when output grew 12.3 percent, the National Bureau of Statistics said yesterday. Growth was 13.2 percent in October.
Standard Chartered Bank said that on a month-on-month seasonally adjusted annual rate basis, industrial output growth actually slowed to 9.8 percent in November from an average of 12 percent in the previous three months.
The slowdown has been flagged by the Purchasing Managers' Index, which slipped from October's 50.4 to 49 in November. The separate HSBC China Manufacturing PMI, slanted more toward private and export-oriented firms, dropped to 47.7 in November from 51 in October. A reading below 50 indicates contraction.
By product, China produced 60,000 vehicles per day on average in November, down 1.3 percent, the statistics bureau said. Power generation rose 8.5 percent in November year on year, the lowest rate since January, while crude steel output fell 8.8 percent month on month.
Industrial output gained 14 percent in the January-November period. The industry ministry has forecast output to grow 14 percent this year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
