China’s Industrial Production Growth Slows to 17-Year Low in August
Investing.com - China’s industrial production growth slowed to a 17-year low in August, data from the National Bureau of Statistics (NBS) showed on Monday.
Industrial production rose 4.4% in August from a year earlier, less than the forecasted 5.2% and July’s 4.8%. Official data showed slumps in both manufacturing and mining activities. Manufacturing grew by 4.3% during the month, down from 4.4% in July. Mining output, meanwhile, grew by 3.7% last month, down from 6.6% in July.
NBS also reported today that retail sales rose 7.5% year-on-year during the month, compared with the expected 7.9%.
Growth of fixed asset investment, the level of spend on physical assets including real estate and infrastructure, came in at 5.5% in August, which was slightly slower than the 5.6% forecasted by analysts.
The data seemed to have little impact on Chinese stocks today. The Shanghai Composite slipped 0.1% while the Shenzhen Component inched up 0.2% in morning trade.
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