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Financial News: China Industrial Output Jumps 5.6% On Year In

China Industrial Output Jumps 5.6% On Year In August

09/14/2020 - 22:17:00 (RTTNews)

(RTTNews) - Industrial production in China was up 5.6 percent on year in August, the National Bureau of Statistics said on Tuesday.

That blew away expectations for an increase of 5.1 percent and was up sharply from the 4.8 percent gain in July.

The bureau also said that retail sales advanced an annual 0.5 percent - also beating expectations for a flat reading after slipping 1.1 percent in the previous month.

Fixed asset investment slipped 0.3 percent on year, again beating forecasts for a fall of 0.4 percent after dropping 1.6 percent a month earlier.

Finally, China's unemployment rate came in at 5.6 percent, beating expectations for 5.7 percent - which would have been unchanged.

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