BEIJING: Growth in China’s industrial production, which measures output at factories, workshops and mines in the world’s second-largest economy, slowed sharply to 6.9 percent year-on-year in August, official data showed Saturday.
Retail sales, a key indicator of consumer spending, rose 11.9 percent in the same month on-year, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, expanded 16.5 percent on-year in the first eight months of 2014.
The industrial output result marked an abrupt slowdown from the 9.0 percent recorded in July and also fell far short of the 8.7 percent median increase in a survey of economists by The Wall Street Journal.
Retail sales growth, meanwhile, also slowed from the 12.2 percent recorded in July.
Fixed asset investment — which is only released cumulatively — was below the 17.0 percent reading for the first seven months of the year, and also below the 16.9 percent forecast.