21-September-2021
Economy News
 
China's factory, consumer sectors stumble on COVID-19 disruptions
15-Sep-2021

China's factory and retail sectors faltered in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country's impressive economic recovery. Industrial production rose 5.3% in August from a year earlier, narrowing from an increase of 6.4% in July and marking the weakest pace since July 2020, data from the National Bureau of Statistics showed on Wednesday. Output growth missed the 5.8% increase tipped by analysts. Consumer spending also took a big hit from rising local COVID-19 cases and floods with sales rising only 2.5% in August from a year ago, much lower than the forecast 7.0% rise and the slowest clip since August last year.

News Source:- https://economictimes.indiatimes.com/news/international/business/chinas-factory-consumer-sectors-stumble-on-covid-19-disruptions/articleshow/86220318.cms?utm_source=ETTopNews&utm_medium=HP&utm_campaign=TN&utm_content=23