China's Slowdown: Industrial Output and Retail Sales Miss Forecasts

China's July industrial output grew 5.7% year-on-year, below June's 6.8% and forecasts. Retail sales rose 3.7%, slowing from 4.8% in June and missing expectations. Fixed asset investment increased 1.6% in the first seven months, falling short of the anticipated 2.7% rise, with industrial production and retail sales both underperforming predictions.

China's industrial output growth decelerated to 5.7% year-on-year in July from 6.8% in June, as reported by the National Bureau of Statistics. These figures failed to meet expectations from a Reuters survey, which projected a 5.9% increase.

Similarly, retail sales showed a slower growth rate, expanding by 3.7% in July compared to a 4.8% rise in June. Analysts had anticipated a higher growth figure of 4.6%.

Fixed asset investment recorded a 1.6% increase over the first seven months of 2023, contrasting with the 2.7% growth forecast and lower than its 2.8% expansion in the initial half of the year.

(With inputs from agencies.)