China's economy slows further in July as retail sales barely grow, investment slump steepens
The data is reinforcing concerns about the health of the world's second-largest economy, which has grappled with a deepening supply-demand imbalance.
China's economy slowed further in July. Industrial output growth fell to 4.5% from 5.3% in June, according to the National Bureau of Statistics. This was below the 4.8% rise expected by analysts polled by Reuters.
Retail sales barely grew, rising 0.6% in July, down from 1% in June and less than the 1.5% growth forecast by analysts. According to Investing.com, the slow growth in retail sales was despite summer holiday tourism spending.
Fixed asset investment also declined, falling 6.7% year-to-date, a steeper drop than the 5.7% decline in June and worse than the 6.2% decrease expected. These downbeat readings have reinforced concerns about the health of the world's second-largest economy, according to CNBC.
Brief written by urgent.news from CNBC, CNBC World, Investing.com, FXStreet — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- 0.6%: China’s Retail Sales miss expectations in July fxstreet.com
- China's industrial output slows in July, retail sales miss forecasts channelnewsasia.com
- China’s industrial output slows in July, retail sales miss forecasts investing.com
- China's economy slows further in July as retail sales barely grow, investment slump steepens cnbc.com
