Growth of China's petrochemical sector slows last month

24-Dec-08
Deteriorating demand amid a global economic meltdown has stunted the growth of China's petroleum and chemical industry in November. As per the China Petroleum and Chemical Industry Association, output value rose a bare 0.8% yoy to 484.25 billion yuan (US$70.82 bln) - 28.1 percentage points lower than year ago levels and down 17.7 points from the previous month. The total includes 260 billion yuan generated by the chemical sector, down 1.5% as against 30.5% growth a year ago, and 68 billion yuan by the oil and gas extraction sector, down 1.2% as against 34% growth last year.
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