{"id":2000723,"date":"2023-08-14T23:53:01","date_gmt":"2023-08-15T03:53:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-cuts-key-rates-as-industrial-output-retail-sales-growth-miss-forecasts\/"},"modified":"2023-08-14T23:57:19","modified_gmt":"2023-08-15T03:57:19","slug":"china-cuts-key-rates-as-industrial-output-retail-sales-growth-miss-forecasts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-cuts-key-rates-as-industrial-output-retail-sales-growth-miss-forecasts\/","title":{"rendered":"China slashes rates as industrial output, retail sales growth disappoints."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-cuts-key-rates-as-industrial-output-retail-sales-growth-miss-forecasts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2000723&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><h2>China&#8217;s Economy Faces Challenges as Industrial Output and Retail Sales Growth Slow<\/h2>\n<\/p>\n<p>BEIJING (Reuters) \u2013 China&#8217;s July industrial output and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-closing-60-bricks-and-mortar-stores\/\" title=\"Disney Closing 60 Bricks-And-Mortar Stores\">retail sales<\/a>\u2062 growth slowed and\u200b undershot forecasts, \u200dadding\u200b to a \u2062raft of recent weak data, \u200bsuggesting policymakers \u200dmay need \u200cto \u200bstep up support measures\u2064 to shore up a faltering economy. <\/p>\n<p>Less than \u200dan hour before the data release, China&#8217;s \u200dcentral bank did just that as it unexpectedly cut\u200c key policy rates for \u2063the\u200b second time in three months, underlining the rapid loss of the \u2063post-COVID economic rebound.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p><h3>Industrial Output and Retail Sales Growth<\/h3>\n<\/p>\n<p>Industrial\u2064 output grew 3.7% from a year earlier, slowing from the 4.4% pace\u200c seen in June, data released by the National Bureau \u200cof \u2062Statistics \u200c(NBS) showed on\u2064 Tuesday. It was below expectations for a 4.4% increase in \u2062a Reuters poll of analysts.<\/p>\n<p>Retail sales, a gauge of consumption, rose 2.5%, down from a 3.1% increase in June and \u2064missed analysts&#8217; forecasts of 4.5% growth despite the summer travel \u200bseason. It was the \u200bslowest growth since\u200b December 2022. <\/p>\n<p><h3>Challenges to Economic Revival<\/h3>\n<\/p>\n<p>Policymakers last month released a batch of stimulus measures, from boosting auto \u2064and home appliances consumption, relaxing some \u2063property restrictions to\u200d pledging support to the \u2062private sector,\u2063 as a post-COVID rebound lost steam since the\u200b second quarter.<\/p>\n<p>However, the persistent \u200ddrag in the property sector, \u2062mounting local \u2064government debt pressure, high youth jobless rate and cooling foreign demand continue to be major impediments to fostering \u2064a sustainable economic revival. \u2063 <\/p>\n<p><h3>Need for Additional Support \u2062Measures<\/h3>\n<\/p>\n<p>Tuesday&#8217;s figures suggest the broader economy remained underpowered last month and come on top of\u2062 a batch of gloomy data over the past week including disappointing trade and\u2062 consumer price \u2064numbers as well as record-low credit growth \u200cthat underline the need for policymakers to provide \u2062more support measures. <\/p>\n<p><h3>Other Economic Indicators<\/h3>\n<\/p>\n<p>Fixed asset investment\u2064 expanded 3.4% in the first seven months of 2023 from the same period a year earlier, versus expectations for a\u2063 3.8% rise. It grew \u20623.8% in the \u2063January-June period.<\/p>\n<p>Investment in the property sector tumbled 8.5% year-on-year in January-July, after shrinking 7.9% in January-June.<\/p>\n<p>Demand \u200bfor the property sector, once a pillar of \u200beconomic growth, has remained weak in recent weeks. The Politburo, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-u-s-general-warns-chinas-military-is-growing\/\" title=\"Top U.S. general warns China\u2019s military is growing\">top decision-making body<\/a> of\u200b the\u200c ruling Communist Party, said last month it is necessary to adapt to significant changes in market supply and demand and optimise property \u2064policies in a timely manner.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-cuts-key-rates-as-industrial-output-retail-sales-growth-miss-forecasts\/\" title=\"China slashes rates as industrial output, retail sales growth disappoints.\">nationwide survey-based jobless rate climbed slightly<\/a> to 5.3% from 5.2% in\u200d June. <\/p>\n<p>($1 = 7.2838 Chinese yuan renminbi)<\/p>\n<\/p>\n<p>  (Reporting by Albee Zhang, Ellen Zhang and Kevin Yao; Editing\u2064 by Shri\u200d Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/china-cuts-key-rates\/attachment\/file-photo-a-worker-welds-at-a-market-under-construction\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/china-cuts-key-rates\/attachment\/file-photo-a-man-and-a-boy-walk-at-a\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Parental and\u2063 Transgender Children&#8217;s Rights Spark Controversy in New Jersey<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Grand Jury May\u200d Indict Trump in Georgia as Developers Seek to Profit from Hawaii Fire<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Criminal\u200d Charges Against Donald Trump Briefly Appear on Fulton \u200bCounty Website<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Mob of Robbers Caught on Video \u200bInside \u200cPopular\u200c Los Angeles Mall<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Chinese Livestream Sales Hosts Face Challenges in Their Careers<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Clorox Systems Offline\u200d After Unauthorized Activity Disrupts Business \u2063Operations<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s industrial output and retail sales growth in July fell short of expectations, indicating a weakening economy. This follows a series of disappointing data, prompting policymakers to consider implementing additional support measures. Just before the release of the data, China&#8217;s central bank unexpectedly took action to address the situation.<\/p>\n","protected":false},"author":66,"featured_media":2000724,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2000723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2000723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2000723"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2000723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2000724"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2000723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2000723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2000723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}