China's July Output Slows to 4.5% as Retail Sales Miss at 0.6%
Updated
Updated · Yahoo Finance · Aug 17
China's July Output Slows to 4.5% as Retail Sales Miss at 0.6%
3 articles · Updated · Yahoo Finance · Aug 17
Summary
Factory output rose 4.5% in July, down from 5.3% in June and below the 4.8% forecast, underscoring weaker momentum at the start of the second half.
Retail sales slowed to 0.6% from 1.0%, missing a 1.5% forecast, as weak domestic demand persisted and the consumer trade-in subsidy lost force.
Fixed-asset investment contracted 6.7% in January-July, worse than both the expected 6.0% decline and the 5.7% drop in the first half, adding pressure for stronger fiscal support.
New home prices fell 3.2% from a year earlier in July, extending the property slump that has weighed on household wealth and made it harder to revive spending.
Beijing said it would step up counter-cyclical policy adjustments as extreme weather, U.S. tariffs and Middle East conflict add to strains after second-quarter growth cooled to a 3.5-year low.