China Economic Slowdown Deepens in August as Pressure Mounts for Stimulus

China

China: The Chinese economy continued to weaken in August 2024, with a slowdown in industrial activity, retail sales, and real estate prices as Beijing faces added pressure to ramp up spending to stimulate demand. According to data from the National Bureau of Statistics, industrial production grew 4.5% year-on-year but slowed from the 5.1% increase in July, while retail sales rose by 2.1%, down from 2.7% the previous month. Fixed asset investment also slowed, rising 3.4% in the first eight months of 2024, while real estate investment dropped 10.2%. Weak consumer demand and deflationary pressures have hampered the post-COVID economic recovery of China, leading to calls for the implementation of large-scale stimulus measures that boost economic growth.

Source: Darien Times