China’s industrial production and consumption improved in August, while investment continued to lose momentum despite Beijing’s increased efforts to stimulate growth. Industrial production expanded 4.5% from a year earlier in August, up from the 3.7% increase in July, the National Bureau of Statistics said Friday. The result beat the 4.1% growth expected by economists in a Wall Street Journal poll.
Retail sales, a key metric for domestic consumption, grew 4.6% in August from a year earlier, accelerating from July’s 2.5% increase and higher than the 3.5% growth expected by surveyed economists. Fixed-asset investment increased 3.2% over the January to August period, down from 3.4% growth recorded in the first seven months. Economists surveyed had anticipated fixed-asset investment to grow 3.3% on year.