China’s economy softens in August as Beijing continues to grapple with lagging demand

BEIJING (AP) — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by the National Bureau of Statistics Saturday showed weakening activity across industrial production, retail sales and real estate in August compared to July. Liu Aihua, the bureau’s chief economist, said that demand remained insufficient at home, and the sustained economic recovery still confronts multiple difficulties and challenges. China has been grappling with a lagging economy post-COVID, with weak consumer demand, persistent deflationary pressures and a contraction in factory activity.