Slowing growth in factory output and retail sales prompts calls for fresh economic stimulus
China’s economy showed further signs of weakness last month as it comes under strain from Donald Trump’s trade wars and domestic problems, with factory output and consumer spending rising at their slowest pace for about a year.
The disappointing data adds pressure on Beijing to roll out more stimulus to fend off a sharp slowdown, with a debt crisis denting the country’s once-booming property sector and exports facing stronger headwinds.
Economists were split over whether policymakers should introduce more near-term fiscal support to hit their annual 5% growth target, with manufacturers awaiting further clarity on a US trade deal and domestic demand curbed by an uncertain job market and property crisis.
Probably only considered a slowdown because China comes from enormous growth.
Industrial output grew by 5.2% year on year last month
That’s exactly what I thought, after almost 5 decades of near 10% annual growth, 5.2% is obviously less, but most countries would love to have 5.2% which AFAIK is more than mostly any industrialized country, or western country or democracy.
What’s called terrible news for China would be awesome almost everywhere else.
The activity data point to a further loss of momentum
Oh wow really? They can’t keep growing 10% annually?
Surprised pikachu!
🤣🤣🤣
