China retail sales growth weakens
Summary
China’s retail sales rose just 0.4% in August, the slowest pace since May, as weak consumer spending continued to drag on growth. Industrial output held up, but fixed-asset investment contracted sharply and economists warned of downside risks ahead.
Key Points
- China’s retail sales increased 0.4% year-on-year in August, missing economists’ expectations and marking a second straight slowdown.
- Industrial production rose 5.2% in August, suggesting manufacturing momentum remained stronger than domestic demand.
- Fixed-asset investment fell 7.2% year-on-year, highlighting continued weakness in the economy.
- The National Bureau of Statistics said the economy operated steadily, but warned that adverse external factors are intensifying.
