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China’s August Slowdown Deepens as Output, Spending and Investment Miss Forecasts

Fresh data heighten pressure on Beijing to bolster growth.

Overview

  • Industrial output rose 5.2% year over year in August, down from 5.7% in July and below Reuters-polled expectations.
  • Retail sales increased 3.4% from a year earlier, easing from 3.7% in July and missing the roughly 3.9% forecast.
  • Fixed-asset investment grew 0.5% in January–August from a year earlier, well under the 1.4% consensus and down from 1.6% in January–July.
  • Property investment fell 12.9% in the first eight months of the year, underscoring the deepening contraction in real estate.
  • China’s surveyed urban unemployment rate edged up to 5.3% in August from 5.2% in July.