China industrial output drops again in August

AFP, BEIJING: China's economy revealed fresh signs of headwinds in August as data showed yesterday that industrial output and retail sales unexpectedly slowed for a second consecutive month.

The readings follow disappointing export figures released last week, a one-two punch for the Asian giant, as an official pointed to weak overseas demand and warned the domestic economy still faces "many hidden concerns".

Output at factories and workshops expanded six per cent last month, the lowest recorded this year and well below the 6.6 per cent forecast in a Bloomberg News survey.

Retails sales slowed slightly to 10.1 per cent while fixed asset investment increased 7.8 per cent in the January-August period -- both well below expectations.

"In general, the national economy in August kept the momentum of steady increase," national statistics bureau spokeswoman Liu Aihua said at a news conference.

China industrial output drops again in August

AFP, BEIJING: Chinas economy revealed fresh signs of headwinds in August as data showed yesterday that industrial output and retail sales unexpectedly slowed for a second consecutive month. The readings follow disappointing export figures released last week, a one-two punch for the Asian giant, as an official pointed to weak overseas demand and warned the domestic economy still faces many hidden concerns. Output at factories and workshops expanded six per cent last month, the lowest recorded this year and well below the 6.6 per cent forecast in a Bloomberg News survey. Retails sales slowed slightly to 10.1 per cent while fixed asset investment increased 7.8 per cent in the January-August period -- both well below expectations. In general, the national economy in August kept the momentum of steady increase, national statistics bureau spokeswoman Liu Aihua said at a news conference.