China’s July economic activity slowed more than expected, with industrial production rising 5.7% yoy, short of the 6.0% yoy forecast and easing from June’s 6.8% yoy. Retail sales growth also disappointed, up 3.7% yoy versus the 4.6% yoy expected, marking a slowdown from 4.8% yoy in the prior month.
From January to July, fixed asset investment grew just 1.6% yoy, well below the 2.7% yoy forecast and down from 2.8% previously yoy, marking the weakest pace since September 2000. The persistent downturn in the property sector remains a major drag, with property investment contracting -12% yoy over the first seven months.
