Major economic indicators drop to unusual lows
China’s economic growth indicators declined in the year’s first two months.
The National Bureau of Statistics said that the year-on-year industrial output growth rate slowed to 8.6 percent in January and February, down from 9.7 percent in December and 10 percent in November. It fell to its lowest level since May 2009.
Growth of overall fixedasset investment, which is seen as the strongest driver of the world’s second-largest economy, dropped to 17.7 percent during the first two months, compared with whole-year growth of 19.6 percent in 2013 and 18.2 percent in the fourth quarter. It reached a 13-year low for those same months.
Total retail sales increased by 11.8 percent, an easing from 13.6 in December and 13.7 in November, and was the slowest pace for the period since 2004. (