China’s economy slumped in July – PSEi falls.
Business activities in China cooled further in July, with investment slowing to a near two-decade low, official data showed, suggesting the Chinese economy is facing increased headwinds amid rising trade tensions with the U.S. Fixed-asset investment in China’s non-rural areas climbed 5.5% in the January-July period from a year earlier, the National Bureau of Statistics said Tuesday. That’s the slowest level since end-1999, according to Wind Information. It was also slower than the 6% increase recorded in the January-June period and undershot a median forecast for a 6% rise in a Wall Street Journal poll of economists. Retail sales in China climbed 8.8% in July from a year earlier, slowing from a 9.0% on-year increase in June and lower than economists’ forecast of 9.0% growth. Retail sales increased 0.67% in July from June. In June, retail sales rose a revised 0.74% from the previous month. READ @ https://www.marketwatch.com/story/chinas-economy-slumped-in-july-2018-08-13
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