Economic data released on Sunday pointed to continued difficulties for old drivers of China’s growth as factory production grew only 6.1% and urban fixed-asset investment increased just 10.9% in August year-over-year, both below investor expectations, The Wall Street Journal reported, citing new figures from the National Bureau of Statistics. However, retail sales grew by 10.8% for the period, beating expectations and accelerating from July’s 10.5% increase. “I’m sure the government’s thinking, now that summer has passed, they can stop worrying about financial volatility and support the real economy,” said Conference Board economist Andrew Polk. “I wouldn’t rule out another interest-rate cut if they thought it would work.”
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