MNI 5 THINGS: China August IP, Retail Stable; FAI Record Low

     BEIJING (MNI) - China's industrial output and retail sales in August

remained stable; however, the fixed-asset investment (FAI) and property

investment both declined, according to data released by China's National Bureau

of Statistics. Here are five things MNI highlights from the data:

     - Industrial production growth was reported as 6.1% y/y in August, higher

than the 6.0% that was recorded in July and predicted by MNI analysts. The ytd

data, which was 6.5% y/y, was down 0.1 percentage point from last month. The

increase was supported by fast-growing development in new energy, industrial

robots and integrated circuit technology.

     - FAI growth from January to August extended its downward trend faster than

estimates, leading to the lowest rate recorded since the data was first compiled

in 1992. FAI grew 5.3% in the January-August period, lower than the 5.5% median

in an MNI survey where 18 forecasters participated. Despite slowing growth, the

investment structure is believed to be optimising, according to the statement

from the bureau.

     - Property investment cooled down in August, mainly due to a series of

tightening policies on the property market. Property investment gained 10.1% in

the first eight months of 2018, compared with the 10.2% gain in the first seven

months. 

     - Retail sales growth rebounded to 9.0% in August, better than the 8.8%

growth reported in July and estimated in an MNI survey. The robust data were to

large extent sustained by the fast growth in upgraded consumption. From January

to July, the growth was unchanged, remaining at 9.3% from the same period last

year. 

     - The surveyed unemployment rate fell to 5.0% in August, 0.1 percentage

point lower on both a year and month basis, standing stable at the middle of the

range since it was first recorded in January. The surveyed unemployment in the

31 big cities was reported even lower, at 4.9%.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com

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