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China's economy slumps in August as consumer, export demand sags
China's factory output growth slowed to its weakest pace in a year in August, while retail sales fell to a nine-month low, keeping pressure on Beijing to roll out more stimulus to fend off a sharp slowdown in growth in the $19 trillion economy. The disappointing data suggests policymakers will need additional near-term fiscal support to hit their annual growth target of "around 5%," with manufacturers awaiting more clarity on a U.S. trade deal and domestic demand curbed by a wobbly job market and a protracted property crisis. Industrial output grew 5.2% year-on-year, National Bureau of Statistics data showed on ... (full story)
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