China's July retail sales unexpectedly slip, factory output growth steady | Malay Mail

Friday, 14 Aug 2020 12:01 PM MYT

BEIJING, Aug 14 ― China's retail sales unexpectedly fell in July from a year ago while the comeback in factory output was slower than forecast amid signs the recovery in the world's second-largest economy remains fragile. Retail sales dropped 1.1 per cent on year, worse than a predicted 0.1 per cent rise and compared with a 1.8 per cent drop in June. Sales fell for the seventh straight month as consumer demand remained sluggish despite strict coronavirus containment measures easing.

China's economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption has strained the recovery momentum.

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