China's investment downturn deepened in August while retail sales lost further momentum, even as industrial output surprised to the upside, official data showed on Tuesday.
Source: Sharecast
Retail sales rose 0.4% year‑on‑year, easing from 0.6% in July and undershooting expectations for 0.8% growth, according to the National Bureau of Statistics.
In contrast, industrial production expanded 5.2%, accelerating from 4.5% in the previous month and beating forecasts.
Fixed‑asset investment remained a weak spot, with urban investment falling 7.2% in the first eight months of the year, a sharper decline than the 6.7% drop recorded from January to July.
The survey‑based urban unemployment rate ticked up to 5.3%, which the NBS attributed to the graduation season. Officials highlighted stable manufacturing employment, improving prospects in tech and continued growth in hospitality and catering.
"We should be aware that the adverse impact of (the) external environment has intensified," said the NBS, which also noted an "acute" imbalance between "strong supply and weak demand" domestically, adding that some firm's still faced trading difficulties. The NBS called for an step up in policy adjustments and a boost for domestic demand.
Reporting by Iain Gilbert at Sharecast.com
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