China Factory-Output Slump Tests Premier Li’s Resolve
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China’s industrial output rose at the weakest pace since the global financial crisis and fixed-asset investment growth trailed projections, adding to evidence the world’s second-biggest economy is losing momentum.
Factory production rose 6.9 percent from a year earlier in August, the National Bureau of Statistics said yesterday in Beijing, compared with 9 percent in July and the 8.8 percent median estimate in a Bloomberg News survey. Retail sales gained 11.9 percent and fixed-asset investment in the January-August period increased 16.5 percent.