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            september 21, 2019

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Retail slumps as China's July industrial output slowest since 2002


China posted the weakest industrial output growth since 2002 accompanied by slumping retail sales in July, Bloomberg reports.
"The economy is facing strong headwinds and decelerating,'' said Washington, DC's Institute of International Finance economist Gene Ma.
Industrial output rose 4.8 per cent year on year, retail sales expanded 7.6 per cent, and fixed-asset investment slowed to 5.7 per cent in the first seven months.
The output data coupled with weak credit demand in the month signal that the world's second largest economy is still struggling to stabilise.

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