The Chinese economy slowed significantly in August, as a tranche of crucial indicators missed the mark on Monday.
According to the National Bureau of Statistics (NBS), China’s retail sales rose 3.4 percent in August compared to a year prior, the weakest pace of growth since November and falling short of the 3.9 percent gain economists surveyed by Reuters had forecast.
Meanwhile, growth in industrial output slowed to 5.2 percent year-over-year from 5.7 percent in July, marking the lowest reading since last August.
Why It Matters
The new data comes at a critical time for Beijing as it attempts to negotiate with the U.S. on a number of contentious economic issues, principal among them being tariffs.
China’s economic might—and the assertion that it can prosper even without American customers—has been considered a key source of leverage for the country in the ongoing trade dispute as it…
