China’s consumer, factory activity improve but still weak

AP Business Writer

BEIJING (AP) — Chinese official data show consumer spending and factory output improved in August but were still weak. Forecasters warned the world’s second-largest economy is vulnerable to disruption from repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower. That adds to a slide in real estate activity under pressure from a government campaign to control debt that set off an economic slump in mid-2021. Chinese leaders are trying to prop up economic growth that sank to 2.5% over a year earlier in the first six months of 2022, less than half the official 5.5% target.

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