Reported 25 days ago
China's economy experienced a significant slowdown in August, with major indicators like factory output, consumption, and investment all declining more than expected, raising concerns about meeting the government's growth target of 5% for 2024. The unemployment rate rose unexpectedly to a six-month high, and housing prices plummeted at the fastest rate since 2014. Experts are now urging the Chinese government to implement urgent monetary and fiscal stimulus measures to avert a deeper economic downturn, as the data indicates that even the resilient parts of the economy are losing momentum.
Source: YAHOO