High-Tech Sectors Cushion China’s Broader Slowdown, ING Says
Chinese industrial production slowed more than expected in July, but high-tech sectors helped keep growth relatively resilient, according to ING’s Lynn Song.
China’s industrial production growth lost more momentum than expected in July, ING economist Lynn Song said. The slowdown was broad, but high-tech sectors provided some cushion.
Song noted that while the industrial reading disappointed, it remained relatively resilient compared with other parts of the domestic economy.
The assessment points to an uneven cooling in China’s growth picture, with advanced manufacturing offering more support than traditional activity.
Source: FXStreet Forex News