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