China's factory output, retail growth slump

CHINA'S FACTORY OUTPUT growth slumped to an eight-month low in July, while retail sales slowed sharply, raising pressure on policymakers to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

- KEVIN YAO, JOE CASH AND YUKUN ZHANG

The underwhelming indicators come as officials navigate pressure on multiple fronts ranging from US President Donald Trump's trade policies to extreme weather, excessive competition in the domestic market, and chronic weakness in the property sector.

Industrial output grew 5.7% year-on-year in July, National Bureau of Statistics (NBS) data showed on Friday, the lowest reading since November 2024, and compared with a 6.8% rise in June. It missed forecasts for a 5.9% increase in a Reuters poll.

Retail sales, a gauge of consumption, expanded 3.7% in July, the slowest pace since December 2024, and cooling from a 4.8% rise in the previous month. They missed a forecast gain of 4.6%.