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China: Industrial Production, Retail Sales and Investment grew less than expected
Data on Industrial Production, Retail Sales and Fixed Asset Investment all missed forecasts as stimulus measures by the Peoples Bank of China effects are limited so far and do not boost the world's second largest economy enough. The data fuels concerns over economic growth and that further measures will have to be taken by the PBoC.
Data for January and February were combined as a consequence of the long Lunar New Year public holiday.
Growth in Industrial Production had the lowest reading since 2009. Industrial Production grew +6.8% year on year, below estimates of an increase of +7.7%. Last year's reading was +7.9%.
Retail Sales grew +10.7% in February compared to +11.9% last year. Analysts expected an increase of +7.7%.
Fixed Asset Investment grew +13.9%, below the estimated +15.1%.
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