China’s latest industrial production and retail sales figures are higher in July from one year ago but the pace of expansion has slowed. Industrial production, a measure of output at factories, workshops and mines jumped 9% in July, compared to a 9.2% rise in June. Retail sales in July rose by 12.2%. But that’s also below June’s 12.4% spike.
The latest data is raising doubts about China meeting its full year growth target of 7.5%.
Hu Yuexiao, analyst with Shanghai Securities based in Shanghai said: “We expect further loosening measures to guarantee a steady economic growth in the coming months. Such measures could include an interest rate cut, and cutting red tape to attract more private capital into the infrastructure and service industries.” Read more here.