Industrial production in China grew 5.2% in August, year-on-year, representing an acceleration of 0.7 percentage points compared to the previous month and surpassing analysts' forecasts, which anticipated growth of around 4.8%. Of the three major sectors into which the National Bureau of Statistics divides the indicator, the manufacturing industry recorded the highest growth at 6.1%, followed by the production and supply of electricity, heating, gas, and water at 4.9%. Mining sector production, on the other hand, fell 1.4%.
The NBS also revealed other economic indicators for the same period. Retail sales slowed from 0.6% growth in July to 0.4% in August, when analysts had expected an acceleration to 0.8%. The official urban unemployment rate rose to 5.3%, above expectations that had pointed to maintaining the 5.2% level.
Fixed asset investment maintained its downward trajectory, falling 7.2% in the first eight months of the year, a contraction 0.5 percentage points greater than that recorded in the previous period. The three main segments of this indicator recorded negative performance, with declines in manufacturing industry (-2.3%), infrastructure (-4%), and real estate development (-19.9%), the latter in the context of the prolonged real estate sector crisis. Commercial property sales, measured by area, fell 12.1% year-on-year between January and August.
