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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
German unemployment rises more than expected, labour office says
China’s top leaders hint at property support, interest rate cuts
Thailand records current account surplus of US$1.1 billion in March
Indonesia may offer dual citizenship to attract overseas workers, minister says
Bank of Japan upbeat on consumption, service price outlook
Any pivot on rates by Fed will mean more blood in stock markets