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China’s Economy Shows Weakness Amid Outbreak and Supply Crisis

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

China’s factory output growth in August hit a 13-month low as COVID-19 delta variant surges in southeast China and the global supply shortage prolongs. The latest data released by China’s National Bureau of Statistics (NBS) on Sept. 15 show a 5.3 percent rise in industrial production from last year, one percent lower compared to the increase in July. Meanwhile, China’s retail sales rose by 2.5 percent year-on-year in August—a creeping increase compared with an 8.5 percent gain a month earlier and the lowest rate since August 2020. China’s sluggish recovery over the past few months due to supply chain bottlenecks, semiconductor shortages, curbs on high-polluting industries, and a crackdown on property investment. China’s services activity slumped into contraction in August, a private-sector survey showed. The pandemic-led supply shortages are also partly to blame. China’s vehicle sales dropped 17.8 percent in August from a year earlier, falling for a fourth consecutive …

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