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China's industrial output, retail sales below forecasts in Jan-Feb

by ChemOrbis Editorial Team - content@chemorbis.com
  • 11/03/2015 (10:01)
According to data released by China’s National Bureau of Statistics, the country’s industrial output and retail sales fell below estimates in the January-February period. The statistics office gives combined figures for January and February in order to minimize distortions from the Chinese New Year holiday, which can take place in either January or February.

Industrial production rose 6.8% on the year in the first two months while economists’ initial estimates called for an increase of 7.8% for the January-February period. Meanwhile, the country’s retail sales rose 10.7% on a yearly basis compared with initial estimates calling for an 11.7% increase.

Meanwhile, China’s fixed-asset investment also fell below estimates in the first two months, posting an increase of 13.9%. Economists’ initial estimates called for a 15% gain. In February, the country’s imports declined 20.5%, the sharpest decrease since 2008. Economists commented that weaker imports may signal a further slowdown in economic growth.

The Chinese government cut their economic growth target for 2015 to around 7% compared with the growth rate of 7.4% posted in 2014, which fell below the government’s 2014 economic growth target of 7.5%.
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