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  HOME | Business & Economy (Click here for more)

China’s Industrial Production Grows 6.1% in August

SHANGHAI – China’s industrial production expanded 6.1 percent year-on-year in August, 0.1 percent more than the figures registered in July, the National Bureau of Statistics said on Friday.

Despite the increase, figures have been low during the first eight months of 2018, as industrial output increased 6.5 percent in this period, 0.1 percentage points slower compared to the period between January-July.

The NBS said that the industrial production is used to gauge the output of big companies, with an annual turnover of at least 20 million yuan (around $2.9 million).

On Friday, it also published the data on retail sales of consumer goods, which increased 9 percent year-on-year in August, 0.2 percent higher than the 8.8 percent growth registered in July.

In August 2017, the major indicator of private consumption expanded 10.1 percent year-on-year.

It further said that China’s fixed asset investment grew 5.3 percent until August this year, slightly lower than the 5.5 percent registered in the period between January-July.

“Growth remains on a downward trajectory, and despite China’s strong export performance recently, economic activity still appears to be facing domestic headwinds,” the consultancy Capital Economics said.

“We think growth will continue to slow in the coming months given that policy stimulus has so far failed to drive a turnaround in infrastructure spending or broader credit growth, even as the property sector is coming under renewed pressure from regulatory tightening,” the think-tank said.

 

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