China August investment growth steady, industrial output beats expectations

[BEIJING] China's fixed-asset investment growth was unchanged at 8.1 per cent in the January-August period, slightly better than market expectations.

Analysts polled by Reuters had predicted investment growth of 8 per cent.

Private sector fixed-asset investment rose 2.3 per cent in January-August, compared with 2.1 per cent growth in the first seven months of the year.

Industrial output rose 6.3 per cent in August from a year earlier, the National Bureau of Statistics said on Tuesday, surpassing analysts' estimates for a rise of 6.1 per cent after increasing 6 per cent in July. Output rose at the fastest pace since March.

Retail sales gained 10.6 per cent in August on-year, also beating expectations.

Analysts had forecasted they would rise 10.3 per cent after a rise of 10.2 per cent the prior month.

China's economy has stabilised in recent months on the back of increased government spending and a property rebound, but private investment remains weak.

REUTERS