China’s consumption, investment cool further in July
Last Updated: Aug. 14, 2023 at 10:18 p.m. ET
First Published: Aug. 14, 2023 at 10:09 p.m. ET
China’s consumption and investment cooled further in July while factory production growth decelerated, official data showed Tuesday.
China’s retail sales, a key metric for the country’s consumption, rose 2.5% from a year earlier in July, down from a 3.1% year-on-year increase in June, said the National Bureau of Statistics.
The result undershot…
China’s consumption and investment cooled further in July while factory production growth decelerated, official data showed Tuesday.
China’s retail sales, a key metric for the country’s consumption, rose 2.5% from a year earlier in July, down from a 3.1% year-on-year increase in June, said the National Bureau of Statistics.
The result undershot the 4.4% growth expected by economists polled by The Wall Street Journal.
Industrial production grew 3.7% from a year earlier in July, lower than a 4.4% increase in June and the 4.6% growth anticipated by the surveyed economists.
Fixed-asset investment rose 3.4% in the January-July period from a year ago, down from a 3.8% increase in the first six months. The economists surveyed had expected FAI to grow 3.8%.
China’s urban surveyed unemployment rate rose to 5.3% in July.
