Growth in China’s factory output declined further in November in a new sign of weakness in the world’s second-largest economy. Industrial production rose by 7.2 percent over a year earlier, government data showed Friday. That was down from October’s 7.7 percent growth and September’s 8 percent rate. The report came after Chinese leaders at an annual planning meeting affirmed their commitment to the “new normal” of slower growth as they try to steer China toward a more sustainable expansion based on domestic consumption. Economic growth fell last quarter to a five-year low of 7.3 percent, below the official full-year target of 7.5 percent. Imports contracted unexpectedly in November in a sign of anemic domestic demand. Communist leaders have expressed confidence they can manage the slowdown. But they cut interest rates unexpectedly Nov. 22 in a sign they worried growth was falling too sharply. Analysts say the […]