Arab Today, arab today china industrial output lowest in nearly 3 years
Last Updated : GMT 11:58:20
Arab Today, arab today
Arab Today, arab today

China industrial output lowest in nearly 3 years

Arab Today, arab today

Arab Today, arab today China industrial output lowest in nearly 3 years

Beijing - Arabstoday

Chinese industrial production weakened sharply in April as investment slowed to its lowest level in nearly a decade, showing an economy that is surprisingly vulnerable to a global slowdown and a credit crunch at home. Industrial production rose by 9.3 per cent in April, the lowest level since May 2009, while retail sales surprised the market by slowing to a 14.1 per cent rise, the lowest level in 14 months. Fixed asset investment rose by 20.2 in the first four months of the year, the slowest level since December 2002. \"It\'s obviously much weaker than anyone had expected. 9.3 per cent for manufacturing is very telling and it shows that the economy is decelerating at a faster rate,\" said Ken Peng, economist at BNP Paribas in Beijing. \"All that points to the fact that domestic demand is weak and it requires more policy help.\" Annual consumer inflation moderated to 3.4 per cent in April from 3.6 per cent in March, while food prices - which are of most concern for China\'s people and policymakers - rose by 7 per cent, compared with 7.5 per cent in March. Easing inflation potentially gives Beijing more scope to loosen policy to help the economy rebound from a first-quarter slowdown in growth. Disappointing trade numbers on Thursday heightened jitters about a slowdown in the global economy. \"This confirms that inflation is trending down and that the policy focus will remain on promoting growth,\" Zhang Zhiwei, China economist at Nomura in Hong Kong. \"The weak export data yesterday put more pressure on the government. This really doesn\'t change the market outlook on inflation that much, but probably policy loosening will become more likely going forward.\" China\'s inflation has fallen steadily from a three-year peak of 6.5 per cent in July 2011 in response to a series of policy tightening steps and weakening economic activity. Pork prices in particular have moderated, after inflation levels of over 50 per cent last summer. Non-food inflation cooled to 1.7 per cent. DOWNTURN RISK Slowing growth has weighed on demand from China\'s manufacturing sector, which struggles with overcapacity in many sectors. April\'s Producer Price Index (PPI) dropped by 0.7 per cent after a 0.3 per cent drop in March, overshooting expectations. Retreating inflation has led investors to speculate that China may cut further the amount of cash it requires banks to hold as reserves to encourage them to lend more to cash-strapped firms. China has cut the required reserve ratio by 100 basis points from a record high of 21.5 percent in two steps, the last a 50 bp cut in February. The market consensus is for 150 bps of more RRR cuts this year, according to the benchmark Reuters poll. Trade data on Thursday highlighted the risks to China\'s factory-focused economy of a fresh downturn in demand, with annual export growth of just 4.9 per cent in April, below a forecast of 8.5 per cent, while headline import growth stalled. Continued softness in domestic demand is exacerbated by the impact of financial turmoil in Europe, a major export market. High domestic stockpiles of metals and iron ore made it unprofitable to import more, helping explain a mere 0.3 per cent rise in China\'s imports in April, far short of the 11 per cent growth that had been forecast. Other than pockets of government spending, overall investment is relatively soft, weighing on demand for steel for construction as well as household appliance purchases, said steel analyst Zhou Xizheng of CITIC Securities in Beijing. \"It\'s mostly because consumer confidence is weak,\" he said. \"Investment is weak because no-one wants to take on more debt.\" 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china industrial output lowest in nearly 3 years Arab Today, arab today china industrial output lowest in nearly 3 years

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday