China’s slowdown deepens in August with retail sales, industrial output missing expectations

China’s economy lost acceleration in August, as weak domestic demand continued, and Beijing’s campaign against industrial excessive capacity against the output of growth has slowed down throughout the board.

Last month, retail sales increased by 3.4% compared to the previous year, data from the National Statistics Bureau showed on Monday, showing that missing analysts slowed down by 3.9% growth forecasts in the Reuters questionnaire and growth of July by 3.7%.

According to LSEG data, the industrial output growth slowed down in August compared to a 5.7% leap, and in July, it slowed down compared to 5.7% splash. The economists expected the data not to change from the previous month.

The fixed asset investment, reported to New Year, stressed only 0.5% of the fingertips from 1.6% expansion in the January-July period and 1.4% growth forecasts of economists.

In this segment, the contraction in real estate investment worsened and fell by 12.9% in the first eight months.

China’s urban unemployment rate in August was 5.3% and rose to 5.2% in the previous month. The Statistics Office connected the increase in unemployment rate to the graduation season.

In an English version, the Statistical Office should be aware that there are many undecided and uncertain factors in an outdoor environment, and national economic development is still faced with multiple risks and difficulties. ” He said.

“We must fully implement macro policies, employment, businesses, market … We must focus on making expectations stable, deepen the reform, deepen the reform, to promote the opening and innovation, stable and healthy economic development.”

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