October Data Suggest Softer Economic Growth

Remigio Civitarese
Novembre 14, 2017

In the first 10 months, fixed-asset investment (FAI) by the private sector grew 5.8 percent year on year to 31.37 trillion yuan (about 4.73 trillion US dollars), the National Bureau of Statistics (NBS) said.

Economists say the slower output growth was a result of Beijing's antipollution crackdown and a production halt in northern China as Chinese leaders gathered in the capital last month for a twice-a-decade party congress.

During January to October, fixed asset investment climbed 7.3% compared to 7.5% rise seen for nine months ended September.

China's coal production rose in October from a year earlier, government data sowed on Tuesday, with miners ramping up output ahead of the winter heating season.

Private investment to the primary sector rose 15.6 percent in the 10-month period, followed by an increase of 7.7 percent for the service sector and 3.2 percent for the secondary sector.

The utilization rate for the coal mining and coal washing sectors rose to 69 percent in the third quarter, up 10.6 percentage points from same period a year ago, reaching the highest level since 2015, the statistics bureau said in a statement on Monday. The reading was the slowest in eight months and below market expectations. The government has said the economy remains on track to deliver on its growth target of "around" 6.5%. This was also weaker than the expected growth of 6.3%.

Property sales by floor area grew 8.2 per cent, slowing from the 10.3 per cent growth seen in the first nine months of the year.

China intends to strike a balance between expansion, debt and leveraging, with economists preparing "for some downside bias for the trade and activity data in the coming months".

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE