The slowdown in China's economy deepened in August, with growth in industri...
BEIJING - The slowdown in China’s economy deepened in August, with growth in industrial production at its weakest 17-1/2 years amid spreading pain from a trade war with the United States and softening domestic demand.
Industrial output growth unexpectedly weakened to 4.4% in August from the same period a year earlier, the slowest pace since February 2002 and receding from 4.8% in July. Analysts polled by Reuters had forecast a pick-up to 5.2%. While the two sides are set to resume face-to-face negotiations in early October, most analysts do not expect a durable trade deal, or even a significant de-escalation, any time soon.
“The key downside risk is the authorities not stepping up policy support sufficiently,” said Louis Kuijs, Head of Asia Economics at Oxford Economics.See more stories Retail sales missed expectations, with growth easing to 7.5%, from 7.6% in July. Analysts had forecast a slight rebound to 7.9%.
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