China’s fixed-asset
investment rose at the slowest pace in 15 years and industrial
production trailed analyst estimates, raising further question marks
over the effectiveness of government efforts to revive growth.
Investment excluding
rural households climbed 10.9 percent in the first eight months, the
National Statistics Bureau said Sunday, versus 11.2 percent median
projection of economists surveyed by Bloomberg.
Industrial output rose 6.1 percent in August from a year earlier, missing the 6.5 percent estimate.
Retail sales rose 10.8 percent in August, beating the projected 10.6 percent gain and July’s 10.5 percent rise.
The weakening economic
figures underscore the challenge the government faces in meeting its
growth target of 7 percent this year, as exports decline and producer
price deflation deepens. Factory shutdowns in Beijing and surrounding
provinces before a Sept. 3 military parade in the capital may also have
contributed to the weaker-than-forecast output reading.
Source: Bloomberg
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