BEIJING \u2014 China’s retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data released Friday.<\/p>\n

Retail sales grew by 4.6% in August from a year ago, beating expectations for 3% growth forecast by a Reuters poll. The increase was also faster than the 2.5% year-on-year pace in July.<\/p>\n

Industrial production grew by 4.5% in August from a year ago, better than the 3.9% forecast and faster than the 3.7% increase reported for July.<\/p>\n

Fixed asset investment,\u00a0however, grew by 3.2% year-on-year in August on a year-to-date basis. That missed expectations for a 3.3% increase and was slower than the 3.4% pace reported as of July.<\/p>\n

The figure was dragged down by a steeper drop in real estate investment,\u00a0and a slowdown in infrastructure investment.\u00a0Only manufacturing saw the pace of investment pick up.<\/p>\n

Statistics bureau spokesperson Fu Linghui said the real estate market was still in a period of “adjustment” and noted declines in sales and investment.<\/p>\n<\/div>\n