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Economy

No end in sight to China's economic slowdown

Recovery in investment unable to offset industrial output at 10-year low

An auto factory in China. Falling production in the country, including for cars, has hurt employment and consumption.   © Reuters

BEIJING -- China's economy shows no signs of bottoming out as industrial output expands at the weakest pace in a decade and the highest unemployment rate in two years prompts consumers to tighten their belts.

The Lunar New Year holiday put a damper on manufacturing in February, National Bureau of Statistics spokesman Mao Shengyong said Thursday. Production is usually still weak 15 to 20 days after the break, he said, noting that the effects were felt into March last year. This year the holiday fell on Feb. 5, 11 days earlier than in 2018.

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