China, industrial production falls at the fastest pace in last six years
Beijing (AsiaNews) - The Chinese industrial output fell again in August at its fastest pace in six years. The final PMI index readings for August 2015 published by Caixin and Markit Economics was of 47.1 points compared to 47.8 in July. Values below 50 indicate a contraction, above of growth.
With the decline in domestic demand and exports, the stock exchanges around the world are faced with a new Black Friday. The fear is that China's economy is set on a gradual and continuous slowdown, maybe even with the approval of the Chinese government which fears the possible explosion of financial or economic bubble.
The fact remains that today's is the lowest rating since March 2009, when the nation was in the midst of global financial crisis, and the sixth consecutive reading below 50 points.
In early August, official data on China's economic growth in the last quarter showed a further slowdown: despite this being of 7%, the figure is the weakest since 2009.
In 2014, therefore, the Chinese economy grew at the slowest pace since 1990. It has grown by 7.4%, but missed its target for annual growth of 7.5% for the first time in 15 years. The numbers do not help stability, even from an international point of view. Since June 2015, the stock markets of the continent have been extremely volatile, undermining investor confidence and limiting the scope for expansion.
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