China’s Industrial Output Growth Slowest in 2016

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China’s Industrial Output Growth Slowest in 2016

According to latest news report from AFP news agency China’s industrial production during the first two months of the year grew at its slowest rate since the global financial crisis, the government said on Saturday. The world’s second largest economies grow 5.4 percent year-on-year in January and February which is not very good news. China’s pivot from an investment and export-driven growth model to one led by consumer spending is blamed for this current economic crisis.

Also great efforts have been made to cut down on pollution which has created a serious health problem in China. The government is getting very serious to cut pollution-heavy production of steel, cement and coal and slumping output of tobacco products. China’s Economic Growth in 2015 was by far the slowest in 25 Years and the GDP grew only 6.9% in 2015 unlike 10% which China was able to maintain which led to huge growth in less than 30 years after a decision was taken to improve the Economy.

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