China's economy shows signs of slowing down

Keeping in mind that there's no such thing as a "soft landing" this is worrying news. It's not a surprise, since all bubbles eventually burst, but China will have a serious problem if the unemployment numbers get much higher.

"This indicates that the economic recovery trend is not yet clear, and we may see economic growth slow down a bit," Zhang Liqun, a government researcher, said in a statement accompanying the release.

"The new export orders sub-index continued to fall while the input prices sub-index went on rising, which suggests that enterprises could face relatively big difficulties in rising costs and slowing demand," he added.

Consumer price inflation in China ran at an annual pace of 4.6 percent in December, slowing slightly from November's 28-month of 5.1 percent.

Many economists believe inflation is set to accelerate again in January due to a spike in food demand and broader consumption ahead of the Chinese Lunar New Year, which begins this week.