Well, for China, we all knew it was happening.
BEIJING (AP) — China’s factory output in August slowed to 6.9 percent from a year earlier amid waning export demand and a slump in real estate development that has undermined steel and cement production, according to data released by the National Bureau of Statistics.
The growth rate for industrial production in August was down sharply from 9.0 percent in July.
In other data, fixed assets investment in non-rural areas of China rose 16.5 percent in the January-August period compared with the same period a year earlier.
The cooler summer months this year in eastern China, one of the country’s most economically active areas, also helped .
Cool or not, lower electricity production doesn’t bode well for China, and suggests they’ve hit a wall in modernization and growth.
This is the problem with being wholly…
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