ProMASS News Bureau: Jan 20, 2016:
Asia markets retreat as China growth hits 25-year low; China’s output of electric power and steel fell for the first time in decades in 2015, while coal production dropped for a second year in row. China’s economy grew at its slowest rate in a quarter of a century in 2015, data released on Tuesday showed, increasing pressure on Beijing to address fears of a prolonged slowdown and ease the jitters affecting global markets.
The full-year growth of 6.9% was only just short of government expectations of 7% but by contrast, growth in 2014 stood at 7.3%. The slide from the previous quarter was expected, but will add to concerns about the health of the world’s second-biggest economy as it confronts a range of challenges, including weak exports, high debt levels and slowing investment. China’s industrial output in December rose 5.9% from a year earlier, compared with forecasts for a 6% increase.
