Share

China's industrial output up 9.2%

Beijing - Output at China's factories, workshops and mines slowed in July, official data showed on Thursday, in a sign of weakness in the world's second-largest economy despite government efforts to boost growth.

Industrial production rose 9.2% last month, the National Bureau of Statistics said, compared to an increase of 9.5% year-on-year (y/y) in June.

Output for the first seven months of 2012 rose 10.3%, the National Bureau of Statistics said.

Separately, retail sales, the main gauge of consumer spending, also slowed, rising 13.1% in July compared with the same month last year, the bureau said.

Retail sales had gained 13.7% in June. They rose 14.2% (y/y) in the first seven months of 2012.

China's economy grew 7.6% in the second quarter from the same period the year before to log its worst performance since the depths of the global economic crisis in 2008-2009.

Authorities have taken measures including slashing interest rates and loosening restrictions on bank lending to boost growth, which has been dented by weakness in overseas economies including the European Union, a key trading partner.

Also Thursday, the bureau said that China's urban fixed asset investments rose 20.4% in the first seven months of 2012 compared with the same period the year before.

Fixed asset investments are a key measure of government spending on infrastructure.

Earlier, the bureau said that China's inflation slowed in July to a two-and-a-half-year low.

*Follow Fin24 on Twitter, Facebook and Google+.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.21
-0.5%
Rand - Pound
23.95
-0.7%
Rand - Euro
20.56
-0.5%
Rand - Aus dollar
12.48
-0.7%
Rand - Yen
0.12
-0.2%
Platinum
912.40
-0.8%
Palladium
1,005.00
-2.1%
Gold
2,314.58
-0.3%
Silver
27.17
-0.5%
Brent Crude
88.42
+1.6%
Top 40
68,574
+0.8%
All Share
74,514
+0.7%
Resource 10
60,444
+1.4%
Industrial 25
104,013
+1.2%
Financial 15
15,837
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders