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在线翻译:
szdaily -> Business_Markets -> 
Economy cools amid government curbs
    2017-11-15  08:53    Shenzhen Daily

CHINA’S economy cooled further last month, with industrial output, fixed-asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.

The government is in the second year of a campaign to reduce debt levels as authorities worry that riskier lending practices, especially in the real estate sector, could imperil the economy.

Data yesterday pointed to moderating growth over the next few quarters as credit expansion slows, with year-on-year industrial output gain of 6.2 percent in October missing analysts’ estimates of a 6.3-percent rise, and below a 6.6-percent increase in September.

Fixed-asset investment growth slowed to 7.3 percent in the January-October period, the National Bureau of Statistics (NBS) said. Analysts had expected an increase of 7.4 percent.

“The moderation in activity data suggests that growth slowed in October and adds to our conviction that it will continue to do so in the quarters ahead,” Nomura analysts wrote in a note to clients.

China’s economy has surprised financial markets with robust growth of nearly 6.9 percent in the first nine months of this year, underpinned by a recovery in its manufacturing and industrial sectors thanks to a government-led infrastructure spending spree, a resilient property market and unexpected strength in exports.

China’s export and import growth both eased in October, while the smog war dragged on manufacturing activity last month.

Data has yet to point to any marked deceleration in economic growth, and analysts see only a modest loss of momentum over the next few months.

The data also showed the positive retail sector impulse has started to ebb.

Retail sales gained 10 percent in October year on year, versus an expected 10.4-percent rise and below the 10.3-percent growth in September.

Private sector fixed-asset investment slowed to 5.8 percent for the January-October period, compared to the 10.9-percent growth in investment by State firms. Private investment rose 6 percent in the previous period.

Many analysts expect that even with some loss of momentum in the fourth quarter, China’s economic growth will easily meet or beat the government’s full-year target of around 6.5 percent.

(SD-Agencies)

 

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