Chinese Data Expected to Show Economy Still Faltering
- Consumption growth likely helped by low base and summer travel
- Economic momentum probably showed no sign of pickup in July
Shoppers at a mall in Beijing in July. Retail sales rose 2.6% in July from a year ago, according to economists polled by Bloomberg, up from a 2% gain in June that was the slowest monthly increase since December 2022.
Source: Bloomberg
China’s economy probably failed to turn the corner on its worst stretch in five quarters, with an uneven recovery in July held back by consumer spending still lagging industrial activity and investment.
Data due Thursday will show retail sales remained sluggish, according to the median forecasts compiled by Bloomberg, despite a slight improvement thanks to a more favorable base of comparison and the summer holiday season. Growth in the industrial sector and investment probably stagnated but continued to outpace consumption that accounts for nearly half of gross domestic product.