Dow Jones Newswires: China’s economy slows unexpectedly as rebound sputters

0
20

China’s economic growth unexpectedly slowed in July after a blip of accelerated recovery in June, official data showed on Monday.

Industrial production rose 3.8% from a year earlier, down slightly from the 3.9% increase in June, according to data released by the National Bureau of Statistics. That fell short of the 4.5% growth expected by economists polled by The Wall Street Journal.

Retail sales, a key metric for consumption, grew 2.7% from a year earlier in July, lower than June’s 3.1% expansion and the 5% increase expected by the surveyed economists.

China’s fixed-asset investment rose 5.7% in the January-July period from the year-earlier period. That is slower from the 6.1% pace recorded in the first half of the year and also lower than the 6.2% growth expected by the economists.

China’s central bank lowered two key policy rates earlier on Monday, just ahead of the release of major economic indicators.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Wall Street Journal: Japan’s economy recovers to pre-pandemic level in second quarter
Next articleBitcoin tops $25,000 level for first time since early June

LEAVE A REPLY

Please enter your comment!
Please enter your name here