Finance • International • News • Opinons

China’s Economy Strains Under Disappointing Data

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.


Pittsburgh doctor stabbed to death after intruder allegedly attacks him, wife as they slept: police
New Jersey Gov Mikie Sherrill calls on lieutenant governor to resign after sexual harassment investigation
FBI says source of its jobs portal breach still unknown as hackers allege employee data compromised
Michigan nurse accused of breaking bones and bruising premature infant at children’s hospital
Xi can’t escape protesters’ cries at deafening dinner demonstration
College Basketball Coach-Turned ESPN Personality Dies at 47
Watch: Xi Descends Into Laughter as Trump Shows off ‘President Autopen’ Picture in Place of Joe Biden’s Portrait
Talarico, Buoyed by Strong Gen Z Support, Leads Paxton Outside Margin of Error in New Poll
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
Unearthed clip exposes clash between El-Sayed and ex-GOP rival: ‘Muslims definitely hate you’
What’s on the menu for Trump’s state dinner with China’s Xi? One American staple is notably missing
Watch: ‘Oh, My God! Why Are We Saying “Free Palestine” Then?’ LGBT Activist Learns Muslims She’s Cheering for Hate Gays
Angel mom says blue state DAs are putting illegal immigrant criminals before public safety
Breaking: Man Wounded During Trump Assassination Attempt in Butler Dies 2 Years Later at 76
Netanyahu fires in all directions at UN, rebuking critics for ‘lies about my country’ as scores of delegates walk out
See also  Trump allies building ‘lawfare’ defense apparatus before possible Democratic takeover

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.


Pittsburgh doctor stabbed to death after intruder allegedly attacks him, wife as they slept: police
New Jersey Gov Mikie Sherrill calls on lieutenant governor to resign after sexual harassment investigation
FBI says source of its jobs portal breach still unknown as hackers allege employee data compromised
Michigan nurse accused of breaking bones and bruising premature infant at children’s hospital
Xi can’t escape protesters’ cries at deafening dinner demonstration
College Basketball Coach-Turned ESPN Personality Dies at 47
Watch: Xi Descends Into Laughter as Trump Shows off ‘President Autopen’ Picture in Place of Joe Biden’s Portrait
Talarico, Buoyed by Strong Gen Z Support, Leads Paxton Outside Margin of Error in New Poll
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
Unearthed clip exposes clash between El-Sayed and ex-GOP rival: ‘Muslims definitely hate you’
What’s on the menu for Trump’s state dinner with China’s Xi? One American staple is notably missing
Watch: ‘Oh, My God! Why Are We Saying “Free Palestine” Then?’ LGBT Activist Learns Muslims She’s Cheering for Hate Gays
Angel mom says blue state DAs are putting illegal immigrant criminals before public safety
Breaking: Man Wounded During Trump Assassination Attempt in Butler Dies 2 Years Later at 76
Netanyahu fires in all directions at UN, rebuking critics for ‘lies about my country’ as scores of delegates walk out
See also  Barry Melrose, 1956-2026

“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.

Share this article:
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter