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Industrial output in China slows sharply in July

Output by Chinese factories, workshops grew by lower-than-expected 6.4%

Afp August 15, 2017 Less than a minute read

Output by Chinese factories and workshops slowed sharply in July, growing by a lower-than-expected 6.4 percent compared to the same month last year, official figures showed on Monday. PHOTO: AFP

BEIJING: China’s industrial output, a key engine of growth, slowed sharply in July as government efforts to rein in debt weighed on demand and economic activity, official data showed on Monday.

The figures come as the authorities have sought to tighten regulations to tame debt as well as reduce excess capacity left over from massive government-backed infrastructure spending at the height of the global financial crisis. Output by Chinese factories and workshops grew by a lower-than-expected 6.4% compared to the same month last year, the national statistics bureau said.

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Economists surveyed by Bloomberg News had expected growth of 7.1% for July after industrial production expanded by 7.6% in June.

Retail sales, meanwhile, slowed slightly to 10.4% last month, compared to 11% in June, while fixed asset investment posted 8.3% growth in the January-July period — both slightly below expectations.

Published in The Express Tribune, August 15^th, 2017.

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