Economics
China’s Industry-Led Recovery Continues But Retail Stays Weak
- Factory output grew at the same pace in July as in June
- But retail sales and output still not back at 2019 levels
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China’s economic recovery continued in July with industrial growth remaining steady, even as weak retail sales undercut the rebound.
Industrial output rose 4.8% in July from a year earlier, the same as in June, but lower than economists’ expectations. Overall retail sales fell 1.1%, compared to a projected 0.1% increase.