China: industrial production slows in August, up 5.3%

BEIJING, SEPTEMBER 15 – Industrial production in China slowed sharply to 5.3% per year, against 6.4% in July and 5.8% expected by analysts, reaching the lowest levels since July 2020 due to the outbreaks Delta variant, raw material costs and problems related to bottlenecks in the supply chain. Economic growth is losing momentum and according to data released by the National Statistical Office, production has contracted in sectors such as textiles (-2.5% against -1.0% in July) and ferrous materials (- 5.3% versus 2.6%). In the first eight months of 2021, industrial production marked an annual increase of 13.1%. (HANDLE).


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