China’s economic slowdown deepened in August as key indicators missed market expectations amid a worsening property slump and sluggish consumer demand.
Industrial output rose 5.2% year-on-year, down from July’s 5.7% growth and marking the weakest performance since August 2024. Markets had expected a 5.8% increase.
Sector breakdown showed mining output climbing 5.1%, manufacturing up 5.7%, and utilities - including electricity, heat, gas and water - rising 2.4%.
Equipment manufacturing and high-tech manufacturing stood out, posting stronger gains of 8.1% and 9.3%, respectively.
Retail sales grew 3.4% from a year earlier, according to the data release, missing forecasts for 3.9% growth and easing from July’s 3.7% increase.
Fixed-asset investment expanded just 0.5% in the first eight months of the year, down sharply from a 1.6% rise in the January to July period and far below the 1.4% expected by markets.
Real estate investment contracted by 12.9% during the period, extending the sector’s downturn.
By contrast, investment in manufacturing rose 5.1%, while utilities surged 18.8%.
China’s survey-based urban unemployment rate edged up to 5.3% in August from 5.2% the previous month.
