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hina’s economy faltered further in August as several key metrics fell short of forecasts, reflecting persistent weak domestic demand and Beijing’s crackdown on industrial overcapacity. Retail sales grew 3.4 % year‑over‑year, below the 3.9 % analysts expected and slower than July’s 3.7 %. Industrial output rose 5.2 % in August, down from 5.7 % in July and the lowest since August 2024, according to LSEG data; economists had predicted no change from the prior month. Fixed‑asset investment, measured year‑to‑date, expanded only 0.5 %, a sharp drop from the 1.6 % growth seen from January to July and below the 1.4 % forecast. Real‑estate investment slumped 12.9 % over the first eight months. The urban unemployment rate edged up to 5.3 % in August from 5.2 % in July, a rise linked to the graduation season. The statistics bureau warned of unstable external conditions and multiple risks, urging strong macro policies, job protection, market stability, deeper reform, opening and innovation to sustain healthy growth.