China’s industrial output growth slowed more than expected in July, data from the National Bureau of Statistics showed on Wednesday.
Growth of Industrial production dropped 4.8% year-on-year, compared with the expected 6.0% increase. It was the slowest since February 2002, according to Reuters.
Retail sales growth also came in weaker than expected, rising 8.3% year-on-year in the first seven months of 2019. The growth dipped from an increase of 8.4% registered in the first six months and was also weaker than the expected growth of 8.6%.
Fixed-asset investment for the same period gained 5.7%, compared with an expected 5.9% rise.
Private sector fixed-asset investment grew 5.4%, compared with a 5.7% rise in the first sixth months of 2019.
The weak data had little impact on Chinese stocks, which gained almost 1% in morning trade on Wednesday, as news that the U.S. has delayed tariffs on certain Chinese goods eased tensions between Beijing and Washington.
