China's August Industrial Production Up 4.5% YoY... Retail Sales Up 4.6%

China's key economic indicators for August, including industrial production and retail sales, exceeded market expectations.

On the 15th, the National Bureau of Statistics of China announced that China's industrial production in August increased by 4.5% year-on-year. This figure significantly surpassed both the previous month's figure (3.4%) and the forecast (4.0%). During the same period, retail sales rose by 4.6% year-on-year, also exceeding the previous month's figure (2.5%) and the forecast (4.6%).

[Image source=Yonhap News]

On a cumulative basis since the beginning of the year, China's industrial production increased by 3.9% compared to last year, and retail sales grew by 6.98%. As of the end of August, China's unemployment rate was 5.2%, slightly improved from the previous month (5.3%). Fixed asset investment increased by 3.2%, falling short of both the previous month's figure (3.4%) and the forecast (3.3%).

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