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China retail sales growth slows as industrial output expansion eases
July retail sales rose 0.6%, down from June’s 1.0% and below the 1.3% forecast, while a slowdown in industrial output and falling investment weighed on momentum.
China’s economic momentum weakened entering the second half of the year, with consumption growth trailing expectations and broader activity slowing, according to SCMP Economy.
The outlet reported that July retail sales increased 0.6%, missing economists’ median forecast of 1.3% from a Wind poll, and slowing from June’s 1.0% growth rate.
SCMP Economy also said the pace of industrial output expansion slowed and that a drop in investment further worsened conditions as China struggled to regain pace.
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