Press "Enter" to skip to content

China’s industrial output rose 5.3% y/y in August, retail sales up 2.5%

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

September 15, 2021

BEIJING (Reuters) – China’s industrial output grew 5.3% in August from the same period a year ago, narrowing from a 6.4% increase in July, while retail sales growth slowed significantly, official data showed on Wednesday.

Other News:   Wall St set to open flat on fears over slowing economic growth

The growth of industrial production missed expectations for a 5.8% year-on-year increase in a Reuters poll of analysts.

Retail sales rose 2.5% from a year earlier, the slowest pace since August 2020. Analysts in the poll had expected them to grow 7.0% in August after rising 8.5% in July.

Fixed asset investment increased 8.9% in the first eight months from a year earlier, just missing expectations for a 9.0% rise and compared with a 10.3% jump in January-July.

Other News:   Justice Department Will ‘Protect’ Texans Seeking Abortions, Says US Attorney General Merrick Garland

The Chinese economy made a remarkably strong revival from a coronavirus-led slump, but momentum has slowed over the past few months as businesses grapple with sporadic COVID-19 outbreaks, supply bottlenecks and high raw materials costs.

Other News:   UN Rights Chief Regrets Lack of Access to Xinjiang

(Reporting by Liangping Gao and Gabriel Crossley; Editing by Sam Holmes)

To continue reading this news article, follow the link to the news website.

For any inquiries, contact Amnon Free Press (Amnon Jobi Jakony) by writing to editor [at] amnonfreepress.com. Discover a world of hyper-local news below.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *