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China's economy slows further in November
(MENAFN) China's economy showed further signs of weakness in November, with factory output growth slowing more than expected and growth in investment near a 13-year low, Arab News reported.
China's economic growth had already weakened to 7.3 percent in the third quarter, so November's soft factory and investment figures suggest full-year growth will miss Beijing's 7.5 percent target.
The figures put more pressure on policymakers to unveil fresh stimulus measures. However, in a sign that banks were already responding to instructions to reflate the economy, new lending jumped 56 percent last month.
"The data bodes ill for GDP growth in the fourth quarter, which is bound to slow further," senior economist at Credit Agricole CIB in Hong Kong said in a statement.
China's economic growth had already weakened to 7.3 percent in the third quarter, so November's soft factory and investment figures suggest full-year growth will miss Beijing's 7.5 percent target.
The figures put more pressure on policymakers to unveil fresh stimulus measures. However, in a sign that banks were already responding to instructions to reflate the economy, new lending jumped 56 percent last month.
"The data bodes ill for GDP growth in the fourth quarter, which is bound to slow further," senior economist at Credit Agricole CIB in Hong Kong said in a statement.
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