Wu argued that August economic data, including slowing growth in industrial production, retail sales and manufacturing investments, indicated that overall economic growth slowed in the third quarter after a modest second quarter.
Wu, China for the year 2024 %He suggested that it seemed increasingly likely that it would miss its 5 ⁇ growth target and that the government would have to press the incentive pedal harder to support the demand side to boost growth.
⁇ Export is currently the only bright spot ⁇ , Wu said, but stressed that winds are strong due to the high tariffs approaching against Chinese products such as electric vehicles and steel.
