15th September 2026 – (Beijing) China’s value‑added industrial output grew 5.3 per cent year on year in the first eight months of 2026, according to official data released on Tuesday, underscoring continued expansion in manufacturing even as broader demand indicators moderated. Total retail sales of goods and services increased 2.5 per cent over the same period, pointing to a cautious consumer backdrop.
Monthly readings suggested mounting pressure. Retail sales in August rose 0.4 per cent year on year, coming in below market expectations and slowing from July’s 0.6 per cent increase, a sign that households remain wary despite targeted policy support. Fixed‑asset investment across infrastructure, manufacturing and property fell 7.2 per cent in the January‑to‑August period from a year earlier, reflecting subdued construction activity and ongoing adjustment in real estate.
Labour market conditions were broadly steady, with the surveyed urban unemployment rate averaging 5.2 per cent in the first eight months, unchanged from a year earlier. Property indicators showed tentative stabilisation, as major cities recorded narrower year‑on‑year declines in overall home prices in August, suggesting policy measures may be helping to slow the pace of correction.
Taken together, the figures depict an economy still expanding through industrial output but contending with softer domestic demand and contracting investment.