News Content
China factory output slows as Beijing mulls 7pc GDP growth in 2014
INDUSTRIAL production growth in China dropped 10 per cent in November from a month earlier, the National Bureau of Statistics revealed.
The growth in factory output slowed while retail sales expanded at a faster pace, accelerating to 13.7 per cent in November from the 13.3 per cent in October, reported Agence France Presse.
"Today's data could be either market-neutral or slightly positive," Bank of America Merrill Lynch economists wrote in a report. They added the figures might raise expectations for stronger growth in the current fourth quarter, while "the structure of the economy seems to be improved towards consumption."
Industrial output, which measures production at factories, workshops and mines, increased 10 per cent in November year on year. That was a slowdown from the 10.3 per cent expansion in October, but matched median forecast of 11 economists surveyed by Dow Jones.
The General Administration of Customs said exports accelerated 12.7 per cent year on year in November while import growth weakened, resulting in the country's biggest trade surplus in nearly five years.
But the strong export figure led some economists to wonder whether companies had returned to over-invoicing their overseas sales to camouflage capital flows, a phenomenon seen earlier this year, said AFP.
"The export growth according to the industrial survey only grew 5.8 per cent, which reinforces our view that double digit export growth in November likely reflects to some extent capital flows disguised as trade flows," said Nomura International economist Zhang Zhiwei.
Beijing is targeting GDP growth this year of 7.5 per cent, but may lower it to seven per cent for 2014. China sees seven per cent range as more sustainable as the economy matures. In 2010, GDP grew 10.4 per cent, and 9.3 per cent in 2011.
The growth in factory output slowed while retail sales expanded at a faster pace, accelerating to 13.7 per cent in November from the 13.3 per cent in October, reported Agence France Presse.
"Today's data could be either market-neutral or slightly positive," Bank of America Merrill Lynch economists wrote in a report. They added the figures might raise expectations for stronger growth in the current fourth quarter, while "the structure of the economy seems to be improved towards consumption."
Industrial output, which measures production at factories, workshops and mines, increased 10 per cent in November year on year. That was a slowdown from the 10.3 per cent expansion in October, but matched median forecast of 11 economists surveyed by Dow Jones.
The General Administration of Customs said exports accelerated 12.7 per cent year on year in November while import growth weakened, resulting in the country's biggest trade surplus in nearly five years.
But the strong export figure led some economists to wonder whether companies had returned to over-invoicing their overseas sales to camouflage capital flows, a phenomenon seen earlier this year, said AFP.
"The export growth according to the industrial survey only grew 5.8 per cent, which reinforces our view that double digit export growth in November likely reflects to some extent capital flows disguised as trade flows," said Nomura International economist Zhang Zhiwei.
Beijing is targeting GDP growth this year of 7.5 per cent, but may lower it to seven per cent for 2014. China sees seven per cent range as more sustainable as the economy matures. In 2010, GDP grew 10.4 per cent, and 9.3 per cent in 2011.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
