Growth this weak has not been seen since August 2009. The Chinese industrial production recorded an annual increase of 12,4%, a sharp slowdown compared to the 13,2% recorded in October. This was announced today by the National Bureau of Statistics in Beijing. It also slowed downincrease in fixed investments, to 24,5% in the first eleven months of the year down compared to 24,9% in the first ten.
The announcement of weak growth in industrial production follows the decline, announced at the beginning of the month, in the manufacturing index which decreased for the first time in November compared to the previous month. However, the results are good retail sales which grow, on an annual basis, to 17,3%, more than expected by 16,9% and more than the 17,2% recorded in October.
In recent months, Beijing has started a fight againstinflation. And the first results seem to be arriving: in November, the growth in consumer prices collapsed to 4,2%, the lowest level since September 2010. A record 6,5% was recorded in July.
The growth of the Chinese economy is launching strongly signs of slowing down, partly due to the crisis in Europe and the United States weighing on Chinese exports. And Beijing is forced to review its own monetary policy: has already lowered the level of compulsory reserves of banks at the end of November, to allow institutions to give more credit to businesses to support economic activity.
