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China's industrial output growth slumps to 5.4% in Nov

By Fu Jing (chinadaily.com.cn)
Updated: 2008-12-15 10:17

Special coverage: Figures and Surveys Related readings:  China's value-added industrial output up 14.4%  China industrial output up 14.7% in July  Industrial output set to fall

China's industrial output saw a pronounced slowdown in growth, rising 5.4 percent year-on-year in November and plunging 11.9 percentage points from a year earlier.

This is a continuation of slump since September as the global credit squeeze and declining orders began to bite, according to figures released by the National Bureau of Statistics (NBS) today.

The November's figure is the weakest in seven years and most economists attribute the slowdown to the ailing international financial services industry and the abrupt cut in orders for China's exports.