Growth of China's industrial production slowed in January-February 2016 from the same period a year ago, confounding economists' expectations.
According to the National Bureau of Statistics, industrial output in China rose 5.4% in the first two months of 2016 from a year earlier, down from a 6.1% increase in the year to December. Retail sales advanced 10.2% in January and February from a year ago after rising 10.7% in the year to December.
Industrial production growth was below a median 5.6% growth forecast, while an 11% increase had been expected in retail sales.
At the same time, the overall picture of China's economic growth remains quite grim, believes Zhao Hao, senior economist at Commerzbank in Singapore.
Experts say that the slowdown in industrial output growth is due to seasonal factors. Thus, weak global demand, a deteriorating situation in steel and chemical sectors, as well as a decrease in production of tobacco products weighed on growth.
Fixed-asset investment climbed 10.2 % from a year ago in the first two months, compared with an increase of 10% for all of 2015. Analysts had predicted a 9.3% rise.
