• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»August data on retail, industrial production, RRR cut
Finance

August data on retail, industrial production, RRR cut

September 15, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
August data on retail, industrial production, RRR cut
Share
Facebook Twitter LinkedIn Pinterest Email

Chinese laborers working at a construction site at sunset in Chongqing, China on March 6, 2005.

China Photos | Getty Images

BEIJING — China’s retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data released Friday.

Retail sales grew by 4.6% in August from a year ago, beating expectations for 3% growth forecast by a Reuters poll. The increase was also faster than the 2.5% year-on-year pace in July.

Industrial production grew by 4.5% in August from a year ago, better than the 3.9% forecast and faster than the 3.7% increase reported for July.

Fixed asset investment, however, grew by 3.2% year-on-year in August on a year-to-date basis. That missed expectations for a 3.3% increase and was slower than the 3.4% pace reported as of July.

The figure was dragged down by a steeper drop in real estate investment, and a slowdown in infrastructure investment. Only manufacturing saw the pace of investment pick up.

Statistics bureau spokesperson Fu Linghui said the real estate market was still in a period of “adjustment” and noted declines in sales and investment.

China is still investable given long-term economic growth potential, Hamilton Lane says

The statistics bureau release described August data as showing “marginal improvement.”

“The national economy showed good momentum of recovery with high-quality development making solid progress and positive factors accumulated,” the statistics bureau release said. “However, we should be aware that many unstable and uncertain factors in the external environment still exist.”

Within retail sales, online sales of physical goods rose by 7.6% in August from a year ago, according to CNBC calculations of official data accessed via Wind.

See also  Analysis: Peru copper miners say red tape snarling red metal production ramp-up

Autos saw sales rise by 1.1%. Among the categories with faster growth were cosmetics, up by 9.7% and communication equipment, up by 8.5% in August from a year ago. Catering sales grew by 12.4% during that time.

More rate cuts

Late Thursday, the People’s Bank of China said that it was cutting the amount of cash that banks need to have on hand by 25 basis points, effective Friday. It was the second reserve requirement ratio cut this year since one in March.

In the last several weeks, Beijing has announced a slew of measures to support the real estate market and consumption.

Workers make pods for e-cigarettes on the production line at Kanger Tech, one of China’s leading manufacturers of vaping products, on September 24, 2019 in Shenzhen, China.

Kevin Frayer | Getty Images News | Getty Images

Monetary policy has remained relatively loose compared with aggressive rate hikes in the U.S. and Europe.

Also effective Friday is a reduction in the foreign exchange reserve requirement ratio for financial institutions to 4%, from 6%. The planned cut was announced two weeks ago.

The central bank has also trimmed other benchmark rates, such as the one-year loan prime rate.

China’s slowing economic growth

Moody’s on Thursday downgraded its outlook on China’s property sector to negative from stable. The firm expects sales to fall by around 5% over the next six to 12 months.

“While the Chinese government has recently strengthened policy support for the property sector, we expect the impact on property sales to be short-lived and differentiated between tiers of cities,” Cedric Lai, vice president and senior analyst at Moody’s, said in a release.

See also  Dollar bounces after sharp selloff, weak data hurts euro
China is still investable given long-term economic growth potential, Hamilton Lane says

Uncertainty about future income has kept consumer spending relatively muted.

China’s consumer price index rose by 0.1% year-on-year in August, reversing a decline in July. Core CPI, which excludes food and energy prices, increased by the same 0.8% year-on-year pace during both months.

— This is breaking news. Please check back for updates.

August cut data industrial production Retail RRR
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump’s Tariffs Trigger Turmoil In China As Country’s Economic Tailspin Intensifies Per New Data

May 6, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Disney’s ‘The Mandalorian’ Star Pedro Pascal Posts Transgender Flag Photos as States Crack Down On Child Sex Change Operations, Medications

March 15, 2023

Ukraine’s Zelensky Lands in Saudi Arabia to Meet MBS, Address Arab League

May 22, 2023

Woman Narrowly Escapes Terrifying Two-Car Collision In Argentina

July 22, 2023

Georgia Bombshell Proves That Trump Plotted Crimes Against America

August 15, 2023
Don't Miss

How Smart Mattresses Improve Sleep Quality For Couples

Lifestyle May 9, 2025

Sharing a bed with your partner can be romantic… until it’s not. One of you…

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,111)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Fox settles lawsuit with fired former producer for $12 million

July 1, 2023

NBCUniversal’s Peacock Loses $565M in 3 Months, Expected to Lose $2.8B in 2023

October 27, 2023

Larry Summers Slams Harvard for Staying Silent on Israel as Student Groups Support Terrorists

October 10, 2023
Popular Posts

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.