Chinese economy slows in July
China's economy slowed in July, with retail sales declining by 0.6%, fixed asset investment contracting by 6.7%, and industrial production dropping to 4.5%. Additionally, urban unemployment rose to 5.2%. The data indicate that economic growth has become sluggish since the end of 2022, with ongoing pressures on the government to bolster economic support in the second half of the year to achieve the targeted growth rate of between 4.5% and 5%.
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