Two of China’s benchmark economic indicators slowed sharply in July as domestic and trade pressures fuelled concern over the health of the world’s second-largest economy.
Industrial output rose 5.7 per cent last month, official data from the National Bureau of Statistics showed on Friday, the slowest pace of growth since November and trailing June’s rate of 6.8 per cent. Retail sales added 3.7 per cent in the month, down from 4.8 per cent in June.
The gloomy data comes as a four-year slowdown in the housing market and the fallout from US President Donald Trump’s tariff war weigh on China’s economy, where Xi Jinping’s government is battling the threat of deflation and growing concerns about industrial overproduction.
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