The slowing in China deepens in August with retail sales, industrial production is missing expectations

In August, China’s economy lost its strength, and growth slowed down, since the weak domestic demand was also maintained by Beijing against the industrial excess.

Last month’s retail sales increased by 3.4% compared to a year earlier, the National Bureau of Statistics showed on Monday, which are missing from analysts by 3.9% of the Reuters survey and slowing down from 3.7% in July.

According to LSEG, industry production has slowed down to 5.2% compared to 5.7% jump in July, noting its weakest level since August 2024, according to LSEG. Economists expected the data to be unchanged from the previous month.

Investments with a fixed asset reported on the current basis increased by only 0.5%, a sharp slowdown from 1.6%expansion in January-July and the forecasts of economists who went by 1.4%.

In this segment, the reduction of real estate investments has deteriorated, falling by 12.9% in the first eight months, showed government data.

In August, the urban unemployment in China was 5.3%, which increased with 5.2%in the previous month. The Statistics Bureau attributed speed without unemployment for the graduate season.

“We need to know that there are many unstable and uncertain factors in the external environment, and national economic development is still faced with several risks and problems,” the statistics bureau said in the English-language issue.

“We must fully implement macro -political, focus on maintaining employment, enterprises, market … expectations of stable, deepening reforms and opening and innovations to promote stable and healthy economic development.”

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