Analysis: Chinese Economic Data Indicates Weakest Start to Year Since 2009

by Colonel on March 10, 2013

“China’s industrial output had the weakest start to a year since 2009 and lending and retail sales growth slowed.

Production increased 9.9 percent in the first two months and retail sales rose 12.3 percent, government data showed March 9, trailing economists’ estimates. New local-currency loans in February fell to 620 billion yuan ($99.6 billion), the People’s Bank of China said yesterday, lower than the estimates of 27 out of 28 analysts in a Bloomberg News survey.

Strengthening U.S. demand after the unemployment rate fell to a four-year low may help incoming Premier Li Keqiang achieve the 7.5 percent expansion in gross domestic product sought by policy makers entering the final week of their meeting at the National People’s Congress in Beijing. China’s exports jumped 23.6 percent in the first two months of the year, the most for a January-February period since 2010.

” — Copyright 2013 Bloomberg LP

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