Retail sales and industrial output in China slowed their growth in August, official data showed on Saturday.
More than a year and a half after lifting all restrictions imposed due to the Covid-19 pandemic, the world’s second largest economy has still not recovered the expected dynamism and its leaders are trying to stimulate domestic consumption.
In…
Retail sales and industrial output in China slowed their growth in August, official data showed on Saturday.
More than a year and a half after lifting all restrictions imposed due to the Covid-19 pandemic, the world’s second largest economy has still not recovered the expected dynamism and its leaders are trying to stimulate domestic consumption.
In August, retail sales rose by 2.1% year-on-year, a slower pace than in July (2.7%), according to data published by the National Statistics Office.
Industrial production also slowed its growth from 5.1% year-on-year in July to 4.7% in August, according to the same source.
“The adverse effects of changes in the external environment are increasing, domestic demand is still insufficient and the economy still faces many difficulties and challenges in its continued recovery,” the agency said in a statement.
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The statistics office also reported a slight rise in unemployment, from 5.2% in July to 5.3% in the last month.
