Retail sales, industrial output fell short of expectations in July as several headwinds appeared to reduce consumer and investor confidence
After six months of steady improvement, China’s economy showed signs of strain in July, with several headline indicators losing momentum amid a weakening of domestic consumption, headwinds from the US trade war and a prolonged property downturn.
Retail sales, a major gauge of consumption, rose by 3.7 per cent year on year in July, a drop in pace compared with the 4.8 per cent growth rate recorded in June, according to data released by the National Bureau of Statistics (NBS) on Friday.
The figures fell short of the 4.87 per cent growth forecast from a poll of economists by financial data provider Wind.
Your personal data will be processed and information from your device (cookies, unique identifiers, and other device data) may be stored by, accessed by and shared with 88 TCF vendor(s) and 20 ad partner(s), or used specifically by this site or app.
