China’s retail sales, industrial production beat expectations in August

[superadmin]

BEIJING — China reported data Friday that showed a pickup in growth in August from the prior month. The data also came in above expectations across the board.

Retail sales grew by 5.4% in August from a year ago, topping a Reuters forecast for 3.5% growth. Industrial production rose by 4.2% in August from a year earlier, beating the 3.8% increase estimated in a Reuters poll of analysts

Fixed asset investment for the first eight months of the year rose by 5.8%, above the 5.5% increase forecast by Reuters. Investment in manufacturing picked up the most, up by 10% from the year-ago period. Infrastructure investment grew at a slower pace than in July, on a year-to-date basis.

Real estate investment for the year declined further as of August, down by 7.4% from the year-ago period versus a 5.2% decline reported for the year as of July.

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