China factory output, retail sales growth slow significantly in August, Economy News & Top Stories – The Straits Times

BEIJING (REUTERS) – China’s industrial output rose 5.3 per cent last month from a year earlier, the weakest pace since July last year, while growth of retail sales also slowed significantly and missed expectations, official data showed on Wednesday (Sept 15). The growth of factory output was slower than a 5.8 per cent year-on-year increase tipped by a Reuters poll of analysts, and compared with a 6.4 per cent increase in July. Covid-19 controls, prolonged semiconductor shortages and curbs on high-polluting industries have disrupted activity in the world’s second-biggest economy. China’s vehicle sales slid in July for a third consecutive…