China’s Economic Momentum Slows As August Data Underscore Fragile Recovery

China’s economy slowed further in August as retail sales, industrial output, and fixed-asset investment all fell short of forecasts, according to CNBC. Retail sales grew 3.4% year-over-year, missing expectations of 3.9% and easing from July’s 3.7%. Industrial output rose 5.2%, its weakest in a year, while fixed-asset investment increased only 0.5% year-to-date, sharply down from 1.6% earlier this year. Real estate investment fell 12.9%, while manufacturing and utilities investment grew 5.1% and 18.8% year-over-year, respectively. The unemployment rate edged up to 5.3% amid graduation season. Analysts warned consumption could slow further from September, with Beijing expected to focus on incremental easing rather than major stimulus. The CSI 300 index rose nearly 1% after the data, with markets already pricing in a weaker third quarter.