China's Investment Slump Worsens, Consumption Growth Misses Estimates

China's investment slump deepened to 7.2% YoY in the first eight months of the year, while retail sales growth missed expectations at 0.4% YoY. Industrial production, however, surprised with a 5.2% YoY increase in August, driven by robust overseas demand. The prolonged property downturn continues to weigh on domestic demand, leading to a K-shaped growth path in the world's second-largest economy.