Tuesday, December 16, 2008

China's industrial output rises 5.4% in Nov

China's industrial output growth rate slumps to 5.4% year on year in November, down 11.9 percentage points compared with the same period of last year, a new low amid the global financial crisis, according to statistics released by the National Bureau of Statistics (NBS).

The output has been decelerating for three consecutive months, and the growth rate in November is the weakest since January in 2001.

The continuous slump can be blamed for the global credit squeeze and the declining orders for China's exports, according to analysts.

During the month, China's exports decreased 2.2% year-on-year to US$115 billion.

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