China's Economy Slows: Fixed-Asset Investment Shrinks

Chinas economy faces significant challenges as new data reveals a substantial slowdown in October, driven by weaker consumer spending, a struggling property market, and a decline in factory activity. Fixed-asset investment, including real estate, shrank by 1.7% in the first ten months, the steepest decline since the pandemic. Industrial output grew slower than expected, while retail sales and consumer prices showed slight improvements. However, exports unexpectedly contracted due to trade tensions with the US, before a deal was reached to ease tariffs and restrictions for a year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.