Off the wire
• 1st LD-Writethru: China stocks decline as investors remain cautious  • Roundup: Philippine bourse closes lower as selling pressure mounts  • Police seize 213 dinosaur eggs at Chinese home  • Israel approves state budget for 2015-2016  • China Focus: Property tax legislation moving forward, though slowly  • 5.2-magnitude quake jolts Ibaraki, NE Japan, no tsunami warnings  • Lessons learned from BBC Chinese schooling documentary  • Singapore stocks close 0.17 pct higher  • 2nd LD Writethru: Panel report mentions Japan's aggression, colonial rule, but no words on apology  • Urgent: Malaysia says confirmation on MH370 debris concordant with French announcement  
You are here: 　 Home

China's machinery sector grows slower than expected

Xinhua, August 6, 2015 Adjust font size:

Production growth in China's machinery sector slowed sharply in the first half of 2015, an industry association said on Thursday, predicting a moderate rebound amid grim conditions.

The China Machinery Industry Federation (CMIF) said the sector expanded just 5.7 percent in the first six months, while the growth was 11.2 percent in the same period last year.

China's total industrial production increased 6.3 percent in H1, and growth in the machinery sector fell short of the national average.

"This was very rare. The deceleration was beyond our expectation," said the CMIF in a statement.

A survey by the federation showed machinery makers were afflicted by shrinking demand, declining orders and dropping prices.

The CMIF attributed the lackluster performance to less investment caused by an economic slowdown.

"The sector may slightly warm up in the latter half of the year to bring annual growth to around 8 percent, as a slew of pro-growth measures will hopefully take effect," the CMIF reckoned.

Annual growth will definitely be lower than the 10-percent increase recorded in 2014, it added. Endi