Economic downturn in China deepens: industrial production growth rate at the bottom of seventy-seven years

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Beijing, Ta. September 16, 2019, Monday

The economic downturn in China is getting darker in August, and the country's industrial output growth rate is at a seven-month low. Domestic demand is thought to have affected industrial production due to the recession and trade war with the United States.

Retail sales and investment figures in China have also weakened, data released Monday said. To prevent further deterioration in industrial activity in the country, China may have increased its main interest rates for the first time after the last three years. The decline is likely to come in the current week.

Despite many measures taken last year to fuel growth, China's second-largest economy is yet to see stability and China will still have to take some steps to prevent further deterioration of the economic situation.

In August, China's industrial growth rate declined by 8 percent annually, the slowest growth since February 9. July's growth rate was 8.5 percent.

In addition to industrial production in China, capital expenditures and retail sales growth also slowed in the last month. Analyst also added that policymakers are advocating for more liberalization of the financial situation when it is unlikely to improve in the near future.

While US and Chinese government representatives are scheduled to meet early next month to ease trade tensions, most analysts are unlikely to see the outcome of the visit. It is not currently possible to see any significant reduction in stress, he added.


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