China Data Shows Pressure Building on Economy Despite Output Surprise

China Data Shows Pressure Building on Economy Despite Output Surprise
A worker monitors molten iron pouring into a furnace at a steel manufacturing plant in Hefei City, Anhui Province, China, on August 15, 2012. Stringer/Reuters
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BEIJINGChina’s growth is set to cool further in coming months, with a barrage of August economic data doing little to dispel views that domestic demand is softening and government support measures will take some time to kick in.
While industrial output and retail sales readings on Sept. 14 were better than expected, most other indicators over the past week were more downbeat, with a key investment gauge falling to a fresh low and broad credit growth being the slowest on record.