BEIJING – China’s industrial output grew 5.4 percent year-on-year in November, five decimal points below the rate registered in October, the National Bureau of Statistics said on Friday.
The November figure, well below analysts’ forecasts, was the lowest in 33 months. The metric notched up 5.9 percent in October growth, up from 5.8 percent in September.
November saw intense trade conflict between China and the United States, before Chinese President Xi Jinping and US President Donald Trump reached a temporary truce at the G20 Summit early this month.
Chinese industrial production rose 6.3 percent year-on-year during the first 11 months of the year, up 0.1 percent from the January-October period.
The industrial output indicator measures the activity of large enterprises with annual turnovers of at least 20 million yuan (around $2.9 million).