China July Data: A New Slew of Misses

China released a raft of disappointing economic data for July on Wednesday, adding to concerns about the world’s second largest economy and raising expectations of further stimulus from the government.

Retail sales rose 10.5 percent in July from the year earlier, according to the National Bureau of Statistics, below the 10.6 percent rise forecast in a Reuters poll and following June’s 10.6 percent rise.

Industrial output, meanwhile, grew an annualized 6.0 percent in the month, lower than expectations for a 6.6 percent gain and after a 6.8 percent uptick in the previous month.

In addition, fixed-asset investment, a key economic driver, expanded 11.2 percent in the first seven months of the year from the year-earlier period, missing estimates for a 11.5 percent gain and compared with a 11.4 percent gain seen between January and June.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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