Growth in China’s industrial economy fell sharply in October, as a broad-based slowdown in manufacturing was again clear in figures released on Thursday, reported the South China Morning Post.
Industrial production, a measure of growth in sectors such as manufacturing, mining and utilities, expanded by 4.6% last month, down from 5.8% in September.
This was below analysts’ expectations of 5.4% growth. September’s figure had been a rebounded from a 17-year low of 4.4%, recorded in August.
In another piece of data released by China’s National Bureau of Statistics on Thursday, fixed asset investment, purchases of capital goods, real estate and infrastructure, grew by 5.2% in the first 10 months of the year, below analysts’ expectations of 5.4% and down from September’s reading, also of 5.4%. This was the lowest growth figure since records began in November 1999.