BEIJING, Sept 14 (Askume) – China’s industrial value added rose 4.5% year-on-year in August, compared with 5.1% in July, the slowest growth since March, suggesting domestic demand is waning and new measures may be needed to stimulate the economy.
A Askume poll of 37 analysts showed that official data released by the National Bureau of Statistics (NBS) on Saturday missed growth expectations of 4.8%.
Despite the peak of summer travel, retail sales, a measure of consumption, still rose 2.1% in August, compared with 2.7% in July. Analysts had expected a weaker retail sales rise of 2.5% for the full year.
Real estate investment grew 3.4% annually in the first eight months of 2024, while the projected growth was 3.5%. It rose 3.6% from January to July.
