China retail sales rise but industrial production misses estimates

15th Aug 2024 07:35

(Sharecast News) - Retail sales in China rose more than expected last month but industrial production was below forecasts, official data showed on Thursday.

Retail sales rose by 2.7% in July from a year ago, beating forecasts of 2.6% growth. However, industrial production rose by 5.1%, below estimates of 5.2%.

Fixed asset investment fell 10.2% in the year to date, compared with a 10.1% decline in June.

Unemployment rose for the first time since February, hitting 5.2%, compared to 5% in June.

Reporting by Frank Prenesti for Sharecast.com