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Summary November data largely showed that growth in the world's second-largest economy was slowing down.
Chinas industrial output growth hit its slowest pace in more than two years in November and inflation tumbled as economic conditions deteriorated, raising expectations Beijing will ease monetary policy again.A batch of November data largely showed that growth in the worlds second-largest economy was slowing down further as it feels the chill of the euro zone debt crisis, although retail sales were stronger than expected.The risks (of a hard landing) are clearly there, said Stephen Green, an economist with Standard Chartered Bank in Hong Kong. Weve already seen policy beginning to turn so obviously thats encouraging.Chinas annual inflation rate tumbled in November to 4.2 percent, the lowest level since September 2010 and slightly below expectations. It was the first time since February that inflation had fallen below 5 percent.Inflation has dropped rapidly since a three-year high of 6.5 percent in July, allowing Beijing to shift its policy stance towards offering support for the economy, especially as it is now closer to the full-year government target for 2011 of 4 percent.The data showed that industrial output growth slowed to 12.4 percent in November, below expectations for 12.8 percent and its weakest pace since August 2009, Reuters data shows.The weakness was flagged by the official purchasing managers index (PMI), which showed factory activity in November shrank from October.
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