China’s economy showed signs of strain in July, with several headline indicators losing momentum amid a weakening of domestic consumption, headwinds from the US trade war and a prolonged property downturn.
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Retail sales, a major gauge of consumption, rose by 3.7 per cent year on year in July, a decrease compared with the 4.8 per cent growth rate recorded in June, according to data released by the National Bureau of Statistics (NBS) on Friday.
The figures fell short of the 4.87 per cent growth forecast from a poll of economists by financial data provider Wind.
Industrial output grew by 5.7 per cent year on year in July, down from 6.8 per cent in June and underperforming Wind’s 5.82 per cent forecast.
China’s national fixed-asset investment rose by 1.6 per cent in the first seven months of 2025, falling short of Wind’s forecast of 2.68 per cent, following a 2.8 per cent gain in the first half of the year.
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