Data released by the National Bureau of Statistics on Saturday showed weak activity. Industrial production Retail and real estate sales this month compared to July.
“We must realize that the negative impacts from changes in the external environment are increasing,” Liu Aihua, the bureau’s chief economist, said at a press conference.
Liu said domestic demand is still insufficient, and sustainable economic recovery still faces multiple difficulties and challenges, according to the Associated Press.
China faces economic slowdown after Covidwith weak consumer demand, continued deflationary pressures, and contracting factory activity.
Chinese leaders have ramped up investment in manufacturing to revive an economy that stalled during the pandemic and is still growing more slowly than expected.
It is also necessary to Beijing Dealing with mounting pressure to implement broad stimulus measures to boost economic growth.
Industrial production rose 4.5 percent in August from a year earlier, but was down from July’s 5.1 percent growth, according to data from the bureau.
I slept Retail Sales By 2.1 percent compared to the same period last year, which is slower than the 2.7 percent increase last month.
Fixed-asset investment rose 3.4 percent from January to August, down from 3.6 percent in the first seven months.
At the same time, investment in Real Estate By 10.2 percent from January to August, compared to last year.
The figures released on Saturday come after trade data for August showed imports grew by just 0.5 percent compared with a year earlier.
The consumer price index rose 0.6 percent in August, missing expectations, according to data released Monday.
Officials attributed the rise in the consumer price index to higher food prices due to bad weather.
But the core CPI, which excludes food and energy prices, rose just 0.3 percent in August, the slowest in more than three years.
