China's growth in factory output fell to a three-year low in July and retail sales weakened, suggesting Beijing might need to launch more stimulus efforts to reverse a painful slowdown in the world's second-largest economy.
Two surveys of Chinese business show manufacturing
decelerated further in August while construction and service industries grew at
a low rate.
The separate reports Monday by HSBC Corp. and the national
statistics bureau add to signals that analysts say suggest China's worst slump
since the 2008 global crisis might be bottoming out while some industries such
as manufacturing are still weakening.
HSBC said its purchasing managers' index for August fell to
its lowest level in more than three years and showed manufacturing contracted
for a tenth straight month.
At the same time, the National Bureau of Statistics said its
index of non-manufacturing business activity strengthened to 56.3 from the
previous month's 55.6. The index includes such fields as construction, air
transport, business services and telecommunications.