China’s Economic Woes Drag On With Factory Disruptions, Property Slump

Chinese manufacturing unit exercise shrank and residential gross sales tumbled in August, because the world’s second-largest financial system struggled to shake off the impression from Covid-19 flare-ups, its worst warmth wave in six a long time and a deepening real-estate downturn.

As the warmth wave led to electricity shortages and manufacturing disruptions, manufacturing exercise shrank for a second consecutive month, China’s National Bureau of Statistics stated Wednesday. Home gross sales additionally continued to slip in July, regardless of efforts by the federal government to decrease buy limitations and assist builders full tasks, in line with a Chinese real-estate information supplier.