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The NBS says that industrial output growth slowed for the year, down to 6 per cent from 6.1 percent in 2015 [Xinhua]
While the data falls within the 6.5 to 7 per cent growth range forecast by the government, it is nevertheless less than 2015’s 6.9 per cent and is the slowest growth rate in 26 years.
Growth in 2016 Q4 was a robust 6.8 per cent, the NBS added, beating forecasts. Domestic consumption played a large role in keeping the growth rate within the range, contributing 64.6 per cent to GDP growth in 2016.
However, it said that industrial output growth slowed for the year, down to 6 per cent from 6.1 percent in 2015.
Earlier this week, the International Monetary Fund (IMF) released its Global Economic Outlook report and said that GDP growth in China in 2016 would come at 6.7 per cent.
China’s fiscal stimulus has helped edge its GDP growth upward, the IMF said on Monday, and it revised its forecast upward from 6.2 to 6.5 per cent for China in 2017.
However, it expects its economy to slow to six per cent in 2018 as the housing market is likely to cool.
The BRICS Post with inputs from Agencies
