SINGAPORE (Reuters) - While financial markets may be worried about last week’s data showing a broad slowing down of China’s economy, the data is not very worrying from a credit or rating perspective, Fitch Ratings said on Monday.
“The data flow is not news from a credit sense,” said Andrew Colquhoun, senior director for Fitch Ratings in Asia.
He said he does not expect a hard landing in China’s economy and the weakening seen was part of a deliberate policy-driven slowdown.
Last week’s data showed China’s economy is weakening broadly. Industrial production growth slowed sharply in April and fixed asset investment - a key growth driver - hit its lowest level in nearly a decade. Loan growth has also been weak.
Reporting by Vidya Ranganathan; Editing by Richard Borsuk