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 Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.