China’s Economy Deepens Slump in August as Key Indicators Miss Forecasts
China’s Economy Deepens Slump in August as Key Indicators Miss Forecasts China’s economic slowdown intensified last month, with a series of crucial indicators for August falling short of analyst expectations. Persistent weak domestic demand and Beijing’s efforts to curb industrial overcapacity are cited as primary factors in the deepening slump. Official data released on Monday by the National Bureau of Statistics revealed that retail sales in August rose by only 3.4% year-on-year. This figure missed Reuters’ analyst estimates of 3.9%…