China's main growth engines falter in October on trade frictions

China’s industrial output grew significantly slower in October, as weakness in global and domestic demand and the drawn-out Sino-U.S. trade war weighed on activity in the world’s second-largest economy

BEIJING - China’s factory output growth slowed significantly more than expected in October, as weakness in global and domestic demand and the drawn-out Sino-U.S. trade war weighed on broad segments of the world’s second-largest economy.

The disappointing numbers show China off to a rough start in the final three months of 2019 and will bolster calls for Beijing to roll out fresh support after third quarter growth slowed to its weakest in almost three decades, with factory production bruised by the trade war with Washington. Thursday’s data showed the value of delivered industrial exports fell 3.8% on-year in October, marking the third straight month of declines.

While some signs of recent progress in trade negotiations between the superpowers have cheered financial market, officials from both sides have so far avoided any firm commitments to end their dispute. In a bid to stop this trend, China’s State Council on Wednesday pledged to lower the minimum capital ratio requirement for some infrastructure investment projects.

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