China : Fastest growing economy slows down

Stringent Government policies have adversely affected the industrial production causing a significant drop and slowing down one of the world’s fastest growing economy.

During August 2006 mines and power plant production recorded a year-on-year rise of 15.7 percent while that in July was at 16.7 percent.

This has been the slowest rate since March 2005, when the average growth pace was around 16.9 percent.

On the contrary production output in India reached its peak with 12.4 percent rise in July.

World's third-biggest trading nation posted a climb of 32.8 percent last month, the highest since January 2005, achieving almost US $90.8 billion.

China is the top manufacturer of textile and clothing products, yet, the month of August witnessed a slight fall in the output.

fiber2fashion.com