WRAPUP 4-China’s economy shows some signs of stabilising but property slump threatens outlook

Chinese policymakers are facing a daunting task in trying to revive growth following a brief post-COVID bounce in the wake of persistent weakness in the crucial property industry, a faltering currency and weak global demand for its manufactured goods. Industrial output rose 4.5% in August from a year earlier, data released on Friday by the National Bureau of Statistics (NBS) showed, accelerating from the 3.7% pace in July and beating expectations for a 3.9% increase in a Reuters poll of analysts.

The country’s factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy. Chinese policymakers are facing a daunting task in trying to revive growth following a brief post-COVID bounce in the wake of persistent weakness in the crucial property industry, a faltering currency and weak global demand for its manufactured goods.

Source: Devdiscourse