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.


Union-funded anti-Spencer Pratt ad sparks backlash as critics say it could help him
Marco Rubio Reveals the Message He Delivered Pope Leo During ‘Important Meeting’ at Vatican
Trump says US helped secure release of 5 prisoners in Belarus deal, thanks Lukashenko
Savannah Guthrie urges public to help find missing mother Nancy in emotional Mother’s Day post
Kristin Smart search ends with no remains found as detectives analyze evidence
Watch: MLB Team Makes ‘Middle School Mistake’ As Season Continues to Spiral
Biden seeks to block DOJ release of 2017 audio, court filing says
Should ‘The View’ Be Considered News? ABC and FCC Go to Battle Over Embattled Show
Major Evangelic Denomination Sees Memberships Fall Amid Debates Over Female Pastors, Growing Distrust
Alert: African Islamists to Begin Executing Christian Women and Children from Group of 416 Recently Kidnapped Hostages
‘Free beer’ for Trump death Dem activist running for Wisconsin gov: ‘I will win’ if they silence me
Virginia Democrats’ $70M redistricting gamble backfires after court defeat, ignites blame game
Trump-backed Board of Peace, Israel ‘will take action’ if Hamas remains out of compliance: Netanyahu advisor
Dangerous Substance Found in Baby Food Jars Leads to Arrest, Discovery of Extortion Scheme
The Harsh Reality Everyone’s Missing About Massive Lithium Find in Appalachia
See also  At least five killed and dozens injured in Ukraine in ‘vile’ Russian strike amid ceasefire talk

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.


Union-funded anti-Spencer Pratt ad sparks backlash as critics say it could help him
Marco Rubio Reveals the Message He Delivered Pope Leo During ‘Important Meeting’ at Vatican
Trump says US helped secure release of 5 prisoners in Belarus deal, thanks Lukashenko
Savannah Guthrie urges public to help find missing mother Nancy in emotional Mother’s Day post
Kristin Smart search ends with no remains found as detectives analyze evidence
Watch: MLB Team Makes ‘Middle School Mistake’ As Season Continues to Spiral
Biden seeks to block DOJ release of 2017 audio, court filing says
Should ‘The View’ Be Considered News? ABC and FCC Go to Battle Over Embattled Show
Major Evangelic Denomination Sees Memberships Fall Amid Debates Over Female Pastors, Growing Distrust
Alert: African Islamists to Begin Executing Christian Women and Children from Group of 416 Recently Kidnapped Hostages
‘Free beer’ for Trump death Dem activist running for Wisconsin gov: ‘I will win’ if they silence me
Virginia Democrats’ $70M redistricting gamble backfires after court defeat, ignites blame game
Trump-backed Board of Peace, Israel ‘will take action’ if Hamas remains out of compliance: Netanyahu advisor
Dangerous Substance Found in Baby Food Jars Leads to Arrest, Discovery of Extortion Scheme
The Harsh Reality Everyone’s Missing About Massive Lithium Find in Appalachia
See also  Trump motorcade drives across Lincoln Memorial Reflecting Pool to inspect renovation efforts

“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