BEIJING (AP) - Growth in China's factory output declined further in November in a new sign of weakness in the world's second-largest economy.
BEIJING (AP) — Growth in China's factory output declined further in November in a new sign of weakness in the world's second-largest economy.
Government data on Friday showed industrial production rose by 7.2 percent over a year earlier. That was down from October's 7.7 percent growth and September's 8 percent rate.
On Thursday, communist leaders at an annual planning meeting affirmed their commitment to the "new normal" of slower growth as they try to steer China toward more sustainable expansion based on domestic consumption.
Economic growth slowed last quarter to a five-year low of 7.3 percent, below the official full-year target of 7.5 percent.
The ruling party cut interest rates unexpectedly Nov. 22 to shore up growth but analysts say it could take several months before the economy rebounds.