Separate data out on Thursday showed retail sales in August slipped for the first time in six months as households cut spending amid a coronavirus relapse, signalling lacklustre consumer sentiment. Factory output lost 3.2% in August from the previous month, official data showed on Thursday, hit by weaker production of cars and electronic machines and marking the second consecutive month of contraction after a 1.5% drop in July. The government downgraded its assessment of industrial production for the first time since April 2020, saying it was “stalling”. Separate government data on Thursday showed retail sales were weaker-than-expected, falling 3.2% in August from a year earlier, dragged down by consumer electronics and clothing. Compared with the previous month, retail sales declined a seasonally adjusted 4.1%.

Source: MetroXpress September 30, 2021 01:18 UTC