Chinese factory output slowed to its weakest pace on record early this year, a sign that the economy remained under pressure with weaker domestic demand despite a series of economic stimulus measures in recent months, said the Financial Times.
Monthly data released this week offered clearer insight of how the world’s second-largest economy has performed in the early months of 2019. China’s statistics bureau publishes January and February together to remove distortions resulting from the timing of the lunar new year holiday.
Factory output, a gauge of the country’s manufacturing sector, rose 5.3% year on year in the period compared with a 5.7% rise in December. That is effectively the weakest reading since that data series began in 1995.
Trade data released last week showed Chinese exports declining by the most in three years.