Chinese Factory Data Shows Weakest Start in Six Years
Bloomberg) -- China’s economy is already behind target as monetary easing shows few signs of traction.
Industrial output, investment and retail sales growth missed analysts’ estimates in January and February, suggesting more stimulus is needed to boost the world’s second-largest economy. Bloomberg’s gross domestic product tracker, which draws on that data as well as measures such as electricity production, shows economic growth slowing to 6.28 percent in the period, the weakest pace since the start of 2009.
Premier Li Keqiang last week set the nation’s 2015 expansion target at about 7 percent, the slowest in more than 15 years, as China’s leaders grapple with the debt, pollution and corruption spurred in a three-decade-long economic boom. The central bank has sought to cushion the slowdown with two interest rate cuts and one reduction to banks’ reserve requirements in the past four months.
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Chinese Factory Data Shows Weakest Start in Six Years
Bloomberg) -- China’s economy is already behind target as monetary easing shows few signs of traction.
Industrial output, investment and retail sales growth missed analysts’ estimates in January and February, suggesting more stimulus is needed to boost the world’s second-largest economy. Bloomberg’s gross domestic product tracker, which draws on that data as well as measures such as electricity production, shows economic growth slowing to 6.28 percent in the period, the weakest pace since the start of 2009.
Premier Li Keqiang last week set the nation’s 2015 expansion target at about 7 percent, the slowest in more than 15 years, as China’s leaders grapple with the debt, pollution and corruption spurred in a three-decade-long economic boom. The central bank has sought to cushion the slowdown with two interest rate cuts and one reduction to banks’ reserve requirements in the past four months.