China economy: Slow output fuels global economic recovery fears
March 14, 2016, 10:56 am     |   Source: BBC

China`s industrial output has slowed to its weakest growth since the financial crisis, prompting concerns over the global recovery.

Production rose by 5.4% in January and February - the worst since 2008.
China is trying to refocus its economy from investment and export-led growth to consumer spending.

UK finance minister George Osborne said China`s slowdown is one of a "dangerous cocktail of risks" hampering recovery from the 2008 financial crisis.

Recent data revealed that Chinese exports fell 25.4% in February compared with the same month last year.

It was the biggest monthly decline since 2009, and ahead of the 11.2% fall recorded in January.



Retail sales in the first two months of the year grew by 10.2% - below analysts` expectations of a 10.9% rise.

Zhou Hao, an economist at Commerzbank, told Bloomberg that the mix of slower industrial output and retail spending "gives us a worrying picture". He said: "The overall growth profile remains still gloomy."

However, Zhou Xiaochuan, governor of the People`s Bank of China, said that the government would be able to achieve a target of an average 6.5% in GDP growth for the next five years without implementing measures to stimulate the economy.

"Excessive monetary policy stimulus isn`t necessary to achieve the target," he said. "If there isn`t any big economic or financial turmoil, we`ll keep prudent monetary policy."



Comments

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  • negativ
    April 2, 2016, 11:23 pm
    in fact i dont care about China
  • Soros
    April 1, 2016, 6:29 pm
    China is OK, there will not be world crisis
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