Sina
Edition: CHINAASIAUSAEUROPEAFRICA
Home > Business
Thursday, November 13, 2014, 14:48

China factory output growth slows

By Xinhua
China factory output growth slows

BEIJING - China's industrial output grew 7.7 percent year on year in October, down from the 8-percent increase in September, official data showed on Thursday.

Fixed-asset investment, an important driver of growth, grew 15.9 percent in the first 10 months of the year from a year ago, the National Bureau of Statistics said on Thursday. That was the weakest pace since December 2001.

China's retail sales climbed 12 percent year on year to 21.31 trillion yuan (US$3.47 trillion) in the first ten months of the year, the National Bureau of Statistics said on Thursday.

The country's retail sales in November grew 11.5 percent from a year ago, with the growth pace falling for five straight months, the data showed.

However, the country's online retail sales continued to accelerate, soaring 55.6 percent year on year to 330.7 billion yuan in the Jan-Nov period, based on survey results of retail catering enterprises with large revenues.

Despite a raft of stimulus measures, China's annual economic growth slowed to 7.3 percent in the third quarter, the weakest pace since the global financial crisis.

Growth in real estate investment, which affects about 40 other industries in China, cooled to 12.4 percent in the first 10 months of 2014 from a year earlier, with property sales and new construction continuing to fall.

 
 
 
Latest News