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.
‘The Era of Deportations Has Begun’: European Parliament Passes Toughest Immigration Policy in Decades
Mark Levin blasts Trump administration over Israel: ‘Stop trashing, smearing, bullying’ ally
Trump’s Iran gamble divides GOP hawks and ‘America First’ conservatives over what victory looks like
College sports sees pivotal moment as Senate looks to move legislation on NIL, transfers across goal line
New Report Says Major School System Hid Admissions Data Defying Supreme Court
Perverted: Meal Kit Company Runs Gross Pride Month Ad, Offering Recipes to Aid Vile Sex Act
Trump’s DOJ Just Did What Decades of Speeches Never Could
FAA investigates after incoming plane executes go-around due to aircraft leaving from intersecting runway
Responders put out explosive blaze at fireworks stand in Oklahoma
Obama Center visitors say project symbolic of ‘Black excellence,’ claim scandal-free legacy while Trump ripped
Trump administration probe could upend widely used transgender youth treatment guidelines
Chinese AI models raise ‘sleeper agent’ fears after report finds more vulnerable code for US users
Angel Dads face another Father’s Day without children killed by illegal immigrants: ‘She should be graduating’
Can Ed Hale, a former Democrat, rebuild the Larry Hogan coalition in Maryland?
Trump’s contracting controversies in the spotlight following no-bid Reflecting Pool deal
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.
‘The Era of Deportations Has Begun’: European Parliament Passes Toughest Immigration Policy in Decades
Mark Levin blasts Trump administration over Israel: ‘Stop trashing, smearing, bullying’ ally
Trump’s Iran gamble divides GOP hawks and ‘America First’ conservatives over what victory looks like
College sports sees pivotal moment as Senate looks to move legislation on NIL, transfers across goal line
New Report Says Major School System Hid Admissions Data Defying Supreme Court
Perverted: Meal Kit Company Runs Gross Pride Month Ad, Offering Recipes to Aid Vile Sex Act
Trump’s DOJ Just Did What Decades of Speeches Never Could
FAA investigates after incoming plane executes go-around due to aircraft leaving from intersecting runway
Responders put out explosive blaze at fireworks stand in Oklahoma
Obama Center visitors say project symbolic of ‘Black excellence,’ claim scandal-free legacy while Trump ripped
Trump administration probe could upend widely used transgender youth treatment guidelines
Chinese AI models raise ‘sleeper agent’ fears after report finds more vulnerable code for US users
Angel Dads face another Father’s Day without children killed by illegal immigrants: ‘She should be graduating’
Can Ed Hale, a former Democrat, rebuild the Larry Hogan coalition in Maryland?
Trump’s contracting controversies in the spotlight following no-bid Reflecting Pool deal
“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.
