Business / Economy

China's rail freight decline narrows Jan-May

(Xinhua) Updated: 2016-06-29 14:47

BEIJING - The pace of decline in China's national rail freight volume, an indicator of economic activity, narrowed in the first five months of 2016 as the economy showed signs of stabilization, according to official data.

Rail freight volume for the first five months of 2016 fell 7.7 percent year on year to 1.318 billion tons, compared with a 7.9-percent drop in the first four months, according to the National Development and Reform Commission (NDRC).

Railways carried 270 million tons of cargo in May, down 7 percent year on year, said the NDRC.

China posted its weakest economic growth since the global financial crisis in the first quarter, weighed down by weak demand both at home and abroad, industrial overcapacity and faltering investment.

Although downward pressure persisted, economic indicators suggested some stabilization.

In the first five months, industrial output grew 5.9 percent from one year earlier, up from 5.8 percent registered during the January-April period.

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