Another alarm for China: industrial production registered its lowest growth in 17 years

BEIJING.-
Industrial production

China

grew 4.4% year-on-year in August,
its lowest growth level in 17 years, the statistics office said today, a figure that confirms tensions over the second world economy that is in the midst of a trade war with

U.S.

The figure is lower than analyst expectations asked by the Bloomberg agency, which predicted a growth of 5.2%.
In July the growth of industrial production was 4.8%

"We have to be aware that instability and international uncertainties are increasing significantly and that, at home, structural economic problems are still prominent," said Fu Linghui, a spokesman for the National Bureau of Statistics, which publishes the data.

Retail sales grew 7.5% in August – 0.1% less than the previous month – a trend that hinders the Chinese government's goal of stimulating domestic consumption.
In the second quarter of the year, Chinese GDP growth slowed to 6.2%, its slowest pace in almost three decades.
"
For China, maintaining a growth of 6.0% or more is very difficult in the current context, with a complicated international situation ",
said the prime minister Chinese, Li Keqiang, in an interview with the Russian press published on the Chinese government website.

AFP Agency

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