Chinese industrial output falls for 2nd month
Industrial output increased by 6% on the year in August, falling short of expectations calling for a growth of 6.6%. This was marked as the smallest increase recorded since the beginning of this year.
The increase in retail sales slightly slowed to 10.1% in August on the year while fixed asset investment expanded by 7.8% on a yearly basis. Both figures defied higher expectations.
According to a spokeswoman of China’s National Bureau of Statistics, the economy held a steady momentum of increase, although the country’s recent political tensions in the region is blurring the long-term outlook. On the flip side, others argue that China’s economy already performed a healthy growth at 6.9% in the first half of the year, which surprised many. Therefore, the country will easily meet its yearly growth target at 6.5%, they say.
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