The slowdown in factory activity was due to a 'decline in the output component': economist
A Chinese Foreign Ministry spokesperson urged Canada to 'not politicize economic and trade issues'
The downgraded estimate follows a jobs report for July that was much worse than expected
Subdued consumer spending also contributed to the slow rebound
Trade deficit in April grew nearly 8% from a year earlier
Higher interest rates are weighing on the economy
Warning comes as big U.S. banks issue mixed profit reports
Figures from March will likely delay Fed rate cuts
Xi Jinping calls for closer trade ties with the U.S.
Deal calls for $100 billion in investments over 15 years