China’s economy showed further signs of softening in July despite a burst of government stimulus measures, suggesting more policy support may be needed to keep growth on track as a property downturn worsens.
Unexpectedly weak growth in investment, retail sales and bank lending in July all pointed to growing vulnerabilities in the world’s second-largest economy.
The biggest surprise from Wednesday’s data deluge came from credit and financing figures that showed the amount of cash flowing into the world’s second-largest economy tumbled to a near six-year low in July of 273.1 billion yuan ($44.34 billion), about one seventh of that in June.
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