China’s Industrial Output Slows

The industrial output growth rate in China fell to its lowest level in 18 months in August, adding to signs its rapid economic expansion faces a sharp downturn, according to Manufacturing.Net. In August, China’s industrial output grew 12.8% over the same period last year, the Chinese National Bureau of Statistics reported. That was 1.9% below July’s growth rate and 4.7% below last August.

Analysts have cut forecasts of China’s economic growth this year to as low as 9%, down from last year’s 11.9%. That still would be by far the highest growth for any major country. But Chinese leaders need higher growth rates to reduce poverty and create jobs for millions of new workers entering the economy.