China industrial production growth rate low for the first time in 17 and a half years
China's main economic indicators have been announced, and the rate of industrial production last month has remained low for the first time in 17 and a half years. became.
According to the announcement by the National Bureau of Statistics of China, industrial production last month grew only 4.4% compared to the same month last year. This is the lowest monthly growth rate for the first time in 17 and a half years.
Looking at the breakdown by industry, the growth rate of general equipment such as metal processing machinery was flat compared to the same month of the previous year. On the other hand, looking at fixed asset investments such as infrastructure and manufacturing equipment, the investment amount from January to last month has grown only 5.5% compared to the same period last year. Reduction was conspicuous.
Industrial production and fixed asset investment were sluggish, mainly because companies refrained from production and capital investment against the backdrop of trade friction with the United States. Also, last month's retail sales growth rate was 0.1 percentage points lower than the previous month, and consumption did not move.
A spokesman for the National Bureau of Statistics said, “There are increasing uncertainties internationally. The government will expand support for infrastructure investment,” and said it will expand its public works to support the economy. Showed.