[ad_1]
China’s retail sales, industrial production, and urban investment all grew slower than expected in August, according to data released by the National Bureau of Statistics. Retail sales increased by 2.1% year-on-year, falling short of the 2.5% growth forecast. Industrial production rose by 4.5%, below the expected 4.8% growth. Fixed asset investment also grew slower than anticipated, up by 3.4% for the January-August period.

The urban unemployment rate edged up to 5.3% in August from 5.2% in July. Infrastructure and manufacturing investments slowed on a year-to-date basis in August. Real estate investment fell by 10.2% for the year through August, matching the decline in July.

The National Bureau of Statistics noted that the uptick in unemployment was due to the impact of graduation season. They emphasized the need for more efforts to stabilize employment. The bureau highlighted that despite the challenges from external factors, achieving a sustained economic recovery remains difficult.

Amid this economic backdrop, China’s ongoing growth has shown signs of slowing down, with policymakers hesitant to implement significant stimulus measures. Data from the last week indicated persistent weakness in consumption, with imports rising by just 0.5% in August and exports increasing by 8.7%.

Overall, China continues to face challenges in its economic recovery, with efforts to boost domestic demand and address weak consumption trends.

[ad_2]
SOURCE