China’s economy showed more signs of strain Monday as the country published weak data for industrial output, investment and retail sales, amid a lingering trade war with the United States.
Industrial output grew by 4.4 percent year-on-year throughout August, falling to its lowest level in 17 years and down from 4.8 percent in July.
The figure was well below analyst expectations, with a Bloomberg survey of analysts predicting heartier growth of 5.2 percent.
“We must be aware that international instabilities and uncertainties are increasing significantly, and that at home economic structural issues are still prominent and the downward pressures on (the) economy are mounting,” said Fu Linghui, a spokesman for the National Bureau of Statistics, which released the data.
Retail sales also slipped to post growth of 7.5 percent — 0.1 percent down on the previous month and a knock to Beijing’s aims to boost domestic consumption.
Iranian missiles could have hit DC from Venezuela before Trump move, Burgum warns
White House unleashes on Raskin for clinging to ‘deranged’ Jack Smith ‘lies’ in latest Trump docs flare-up
CNN’s ‘Embarrassing’ On-Air ‘Experiment’ Is Not Going Over Well
Trump Says Iranian Leaders ‘Did Something That Was Amazing,’ Sent Him a ‘Very Big Present’
Biden political priorities impeded Iran negotiations, former secretary of state admits
Machado tells US oil giants Venezuela will become beacon of wealth creation after Trump ousted Maduro
Danish PM Frederiksen resigns after lackluster election for Social Democrats, Moderates seek to wield power
Why CPAC has a golden opportunity to reestablish itself as the ‘go-to conservative conference’
Newsom’s Social Media Team Freaks, Glowingly Compares Candidate to ‘American Psycho’ Who Used Acid to Mutilate Woman
Illinois Gov Pritzker admits ‘real failures’ as slain Chicago student’s hometown pays tribute in lights
LA model and influencer charged with using dating apps to burglarize homes of elderly, wealthy victims
Israel funds front websites in attempt to push ChatGPT into promoting pro-war messaging
Chicago Mayor Who Said ‘We Cannot Jail Our Way Out of Violent Crime’ Proves We Can As Student Allegedly Murdered by Criminal Illegal
SEE IT: Travelers sound off as ICE agents deployed to airports as shutdown drags past 40 days
American Dennis Coyle lands in Texas after over a year in Taliban captivity
Investment in fixed assets saw year-on-year growth of 5.5 percent in the first eight months of the year, 0.2 percent less than the first seven months, including a slight dip in crucial real estate investment.
All three sets of data fell short of analyst expectations, with Bloomberg predicting 7.9 percent growth in retail sales and 5.7 percent growth in investments.
China’s gross domestic product (GDP) growth slowed to 6.2 percent in the second quarter of the year — the weakest pace in almost three decades.
“For China to maintain growth of 6.0 percent or more is very difficult against the current backdrop of a complicated international situation and a relatively high base, and this rate is at the forefront of the world’s leading economies,” Chinese Premier Li Keqiang was quoted as saying in an interview with Russian media which was published on the Chinese government’s website.
The People’s Bank of China said earlier this month that it would cut the amount of cash lenders must keep in reserve, in a bid to release more money into the stuttering economy.
Iranian missiles could have hit DC from Venezuela before Trump move, Burgum warns
White House unleashes on Raskin for clinging to ‘deranged’ Jack Smith ‘lies’ in latest Trump docs flare-up
CNN’s ‘Embarrassing’ On-Air ‘Experiment’ Is Not Going Over Well
Trump Says Iranian Leaders ‘Did Something That Was Amazing,’ Sent Him a ‘Very Big Present’
Biden political priorities impeded Iran negotiations, former secretary of state admits
Machado tells US oil giants Venezuela will become beacon of wealth creation after Trump ousted Maduro
Danish PM Frederiksen resigns after lackluster election for Social Democrats, Moderates seek to wield power
Why CPAC has a golden opportunity to reestablish itself as the ‘go-to conservative conference’
Newsom’s Social Media Team Freaks, Glowingly Compares Candidate to ‘American Psycho’ Who Used Acid to Mutilate Woman
Illinois Gov Pritzker admits ‘real failures’ as slain Chicago student’s hometown pays tribute in lights
LA model and influencer charged with using dating apps to burglarize homes of elderly, wealthy victims
Israel funds front websites in attempt to push ChatGPT into promoting pro-war messaging
Chicago Mayor Who Said ‘We Cannot Jail Our Way Out of Violent Crime’ Proves We Can As Student Allegedly Murdered by Criminal Illegal
SEE IT: Travelers sound off as ICE agents deployed to airports as shutdown drags past 40 days
American Dennis Coyle lands in Texas after over a year in Taliban captivity
“With a strong rebound unlikely any time soon, we anticipate that policymakers will ease monetary conditions further in the coming months,” said Martin Lynge Rasmussen, China Economist at Capital Economics.
Washington and Beijing, meanwhile, have extended olive branches ahead of trade war talks next month, with the US delaying a new round of tariffs by two weeks and China exempting some products from punitive duties.
Story cited here.
