China’s factory output falls below expectations in August
Meanwhile, the NBS also released China’s August retail sales data on Sunday. The country’s retail sales rose 10.8% in August, up from economists’ initial forecast which called for an increase of 10.6% on the year.
The recent data showed that China’s economy is still under downward pressure despite the government’s efforts to boost the slowing economy. Economists commented that the Chinese government’s five interest-rate cuts since November and its efforts to speed growth have yet to show positive effects, adding that the government may have to push infrastructure investment for the rest of the year to stabilize growth.
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