China Economy Jolted by Weather Shocks in New Hurdle to Recovery [Financial Post (Toronto, Ontario, Canada)]
Citigroup, Inc. (C)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — China's economy likely failed to reverse a monthslong slowdown rooted in depressed demand, especially after the disruption caused by extreme weather this summer. As pressure builds on policymakers to roll out more stimulus, data due Saturday will show growth in industrial production slipped in August for a fourth straight month, in what would be its longest deceleration in almost three years. A slower expansion in activity also extended to retail sales and investment, according to analysts surveyed by Bloomberg. The widespread weakness would be a signal of how little traction the $17 trillion economy has generated in recovering from its worst stretch in five quarters. Heat waves — coupled with torrential rains that snarled travel and flooded farmland and mines — have added to setbacks for Beijing and its pursuit of growth around 5%, a goal most gl
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