The economy has been increasingly sluggish in the entire world, as April data of China�s National Bureau of Statistics showed. China's industrial output growth slowed to nearly a 3-year low.


In April China�s industrial production decreased to 9.3% on a yearly basis. Analysts had expected growth in the indicator by 12%.


The forecast of China�s retail sales did not turn out to be true as well: the corresponding index dropped to 14.1% instead of projected 15.2%.


As indicators of the world�s largest oil consumer become weak or fall short of predictions, prices of raw materials tend to decline.


The news released on Friday exerted additional pressure on oil price sagging amid concerns over the European economic conditions.WTI oil price shifted down by 20 cent. On Friday a barrel of WTI oil cost 95 US dollars and 60 cent.


However, as experts put it, Beijing actually had to reduce industrial output to diminish China�s reliance on exports since production of goods intended to be exported harms the environment.