Industrial output in China grew 6.9% from a year earlier in August, the lowest rate of growth for factories since the financial crisis hit in 2008, Reuters reported. The figure fell far short of expectations and slowed sharply in comparison to July’s relatively zippy 9% growth rate. When combined with weaker readings in retail sales, investment and imports, the output data pointed to a further loss of momentum as the cooling housing market increasingly drags on other sectors from cement to steel and saps consumer confidence.
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