China July industrial output rose 4.8%, retail sales up 7.6%


Female labors work in a cloth factory in Huaibei, Anhui province, East China.

Jie Zhao | Corbis News | Getty Images

Growth of China's industrial output slowed much more than expected to 4.8% in July from a year earlier,

The July peace was the slowest since February 2002. Analysts polled by Reuters had forecast industrial output would rise 5.8% from a year earlier, slowing from 6.3% in June.

Fixed asset investment for the first seven months of the year rose 5.7%, according to the National Bureau of Statistics, compared with a 5.8% rise forecast by analysts.

Private sector fixed-asset investment, which accounted for 60% of the country's total investment, grew 5.4% in January-July, compared with at 5.7% rise in the first six months of 2019.

Retail sales growth was also weaker than expected, increasing 7.6% in July from a year earlier, compared with 9.8% in June. Analysts surveyed by Reuters had expected growth of 8.6%.



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