China’s retail sales growth slows more than expected in July

China’s retail sales growth slows more than expected in July

Residents walk through disinfectant spray as their residential community lifts epidemic-control lockdown on August 14, 2021, in Nanjing, Jiangsu Province of China.

Ruan Zhong | Visual China Group | Getty Images

BEIJING — China released economic data for July that showed slower-than-expected growth.

Retail sales rose by 8.5% in July from a year ago, lower than the forecast 11.5%, according to analysts polled by Reuters.

Industrial production grew by 6.4%, also below expectations of a 7.8% year-on-year increase in July, according to the Reuters poll.

Fixed asset investment for the first seven months of the year rose by 10.3%, below the forecast of 11.3% year-on-year growth for the January to July period, according to Reuters.

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