China's August Retail Sales Miss Forecasts as Investment Slump Deepens
Fresh data show consumer spending growth slowing and investment weakening further, even as industrial output surprised to the upside, adding pressure on Beijing to shore up demand.
China's retail sales growth slowed further in August, missing analysts' forecasts, while investment in fixed assets deepened its decline, according to a report by CNBC citing official economic data.
The figures point to continued weakness in consumer spending and business investment even as industrial output for the month came in stronger than expected, beating market estimates, the report said.
According to CNBC, Chinese authorities have warned of a supply-demand imbalance in the economy, a signal that officials are concerned growth in production is outpacing domestic consumption.
The combination of soft retail sales, a deepening investment slump and above-forecast industrial output underscores uneven momentum across different sectors of the world's second-largest economy, the report noted.
The data add to pressure on Beijing as policymakers weigh further measures to support demand, according to CNBC. The report did not specify additional policy actions that authorities may take in response to the latest figures.
CNBC's report did not provide specific percentage figures for the retail sales, investment or industrial output data in the portion available, though it characterized the retail sales and investment trends as weaker than expected and the industrial output as exceeding estimates.
Sources
- China's August retail sales miss forecast while investment slump deepens, piling pressure on Beijing — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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