China's July Retail Sales And Urban Investment Slow Sharply
· World · CNBC, The Guardian
China's economic momentum slowed further in July as retail sales grew by just 0.6% from a year earlier, missing the estimated 1.5% increase. Urban fixed-asset investment contracted by 6.7% for the year up to July, worsening from a 5.7% drop in the first half. Industrial output rose 4.5% during the month, undershooting the projected 4.8% growth rate. Meanwhile, the urban unemployment rate edged up to 5.2% in July from 5% in June. The figures follow second-quarter GDP growth of 4.3%, the slowest expansion since late 2022.
Why it matters
The broad economic slowdown increases pressure on Beijing to introduce additional stimulus measures to support domestic consumption and hit growth targets.
Read the original report — CNBC
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