China's retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world's second-largest economy failed to shake ...
China's retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world's second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum.
However, the data from the National Bureau of Statistics on Friday showed weaker-than-expected year-on-year industrial output growth and retail sales extending declines into a seventh straight month in July. That was slightly offset by firmer property investment, which showed recent stimulus was supporting construction activity.
Retail sales dropped 1.1per cent on year, missing predictions for a 0.1per cent rise and following a 1.8per cent fall in June. China's economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption weighed on momentum.
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