Financial News: China Industrial Output Rises Less Than Forecast

China Industrial Output Rises Less Than Forecast

08/15/2024 - 01:59:00 (RTTNews)

(RTTNews) - China's industrial production grew less than expected in July, while retail sales picked up, official data revealed Thursday.

Industrial production posted a 5.1 percent yearly growth in July, weaker than June's 5.3 percent increase, the National Bureau of Statistics said. Output was forecast to climb 5.2 percent.

Retail sales climbed 2.7 percent annually, improving from the 2.0 percent expansion seen in June. Economists had forecast sales to grow 2.6 percent.

During January to July period, fixed asset investment climbed only 3.6 percent. This was slower than forecast of 3.9 percent.

With the government ramping up policy support, a modest recovery could take hold over the coming months, economists at Capital Economics said.

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