China's industrial production growth skidded to its weakest pace in 17 year...
A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. Picture taken September 2, 2019. China Daily via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT. TPX IMAGES OF THE DAY
BEIJING - China’s industrial production growth skidded to its weakest pace in 17 years and a half in August, expanding just 4.4% year-on-year, signaling further weakness in an economy hit by the trade war and slowing demand. Analysts polled by Reuters had forecast industrial output would rise 5.2% from a year earlier, a slight rebound from the 17-year low of 4.8% in July.Fixed-asset investment for the first eight months of the year rose 5.5%, according to data published by the National Bureau of Statistics, compared with a 5.6% rise forecast by analysts.
Private sector fixed-asset investment, which accounts for about 60% of the country’s total investment, grew 4.9% in January-August, compared with a 5.4% rise in the first seven months of 2019. Retail sales growth slowed to 7.5%, compared with 7.6% in July. Analysts surveyed by Reuters had expected growth of 7.9%.
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