Industrial production and consumption in China improved in August, while investment continued to lose momentum, despite Beijing’s increased efforts to stimulate growth.
Industrial production grew 4.5% from a year earlier in August, compared with a 3.7% increase in July, the National Bureau of Statistics said on Friday. The result exceeded the 4.1% growth expected by economists in a Wall Street Journal poll.
Retail sales, a key measure of domestic consumption, grew 4.6% in August from a year earlier, an acceleration from July’s 2.5% increase and ahead of 3.5% growth expected by economists surveyed.
Fixed asset investment rose 3.2% in the January to August period, compared with the 3.4% growth recorded in the first seven months. Economists surveyed had expected fixed asset investment to grow 3.3% annually.