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China’s growth shows signs of hitting brakes
CHINA’s industrial output growth slowed to 9.2 per cent year-on-year in July, its weakest since May 2009, down from 9.5 per cent in June.
In a day of bearish news for the emerging economic giant yesterday, investment and retail data also disappointed analysts.
Growth of retail sales in July, the biggest driver of the economy’s expansion in the first quarter, eased to 13.1 per cent, short of forecasts.
Annual growth in fixed-asset investment came in at 20.4 per cent in January-to-July, unchanged from the January-to-June period. China’s annual consumer inflation fell to a 30-month low of 1.8 per cent in July.