China's factory output rose by 9.3 percent in April compared with March's 11.9 percent, sharply underperforming expectations as cooling demand at home and abroad dragged on production growth, the National Bureau of Statistics said on Friday.
Economists polled by Reuters had expected industrial production growth to stabilize at 12.0 percent in April from a year earlier.
Continued difficulty in access to loans has led to a softening in fixed-asset investment, which increased 20.2 percent in the January-April period from a year earlier, compared with an annual rise of 20.9 percent in the first three months.
China April Bank Lending Weaker Than ExpectedChina Inflation Eases in April, Uptick in Output SeenDohmen: 'Soft Landing' in China? No Way! Retail sales also underperformed market expectations for an annual growth of 15.2 percent, rising instead by 14.2 percent in April from a year earlier.
The data confirms expectations that the world's No. 2 economy is losing steam. But the slowdown has been orderly, as desired by Beijing to make room for reforms that encourage domestic consumption while cutting China's dependence on exports and pollution-belching industries.
Wide spread fear makes it a great time to buy, in my opinion. We are so far away from 2008 but people seem just as fearful. AIG is paying back. Fannie and Freddie and the word profit in the same sentence. It's like people want every economic indicator to be positive to instill 100% confidence. They've got a long wait (never) if that's what they want.
The fundamentals of this company have impoved in the last 2 months - inconsistent with stock performance. Short seller pressure gets one more crack at it thanks to JP Morgan. After that, they're out of bullets. Based on the recent insider buys, my take is the line in sand has been drawn. RDN can take additional steps to prevent further erosion in pps and if I owned a million shares like the CEO (and another million options in the pipeline0, I would be ready.
May operating stats prediction: Under 100,000 loans in default - turning point. They were at 152,000 in default and at $11B in NIW at end of 2009 - but that seems to be forgotton. $24-25B in NIW is reasonable prediction for 2012.