China Economy Stalls As Factory Output, Retail Sales Growth Slow

China Economy Stalls As Factory Output, Retail Sales Growth Slow

Andrew H. Sweet

Industrial production in the world's second-largest economy increased 6.4% year-on-year in July, data from the National Bureau of Statistics (NBS) showed. Analysts had expected output to rise 7.8% after growing 8.3% in June.

China Economy Stalls As Factory Output, Retail Sales Growth Slow
China Economy Stalls As Factory Output, Retail Sales Growth Slow

Retail sales increased 8.5% in July from a year earlier, far lower than the forecast 11.5% rise and June's 12.1% uptick. China's economy has rebounded to its pre-pandemic growth levels, but the expansion is losing steam as businesses grapple with higher costs and supply bottlenecks.

Fu Linghui, an NBS spokesperson, said that China's recovery remains uneven due to sporadic COVID-19 outbreaks and natural disasters.

Read the original story here.

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