China's July industrial output growth at 17-year low

Beijing

CHINA'S industrial output growth slumped to a 17-year low and retail sales remained tepid in July, a sign the economy is struggling to stabilise as the trade war with the US drags on into a second year.

Industrial output rose 4.8 per cent from a year earlier, while retail sales expanded 7.6 per cent, and fixed-asset investment growth slowed to 5.7 per cent in the first seven months of 2019, below analysts expectations that had anticipated some respite after a short-lived rebound in June.

Wednesday's figures come after previously published weak monthly credit and manufacturing data and show that despite an array of stimulus measures the Chinese economy remains under pressure with duties now levied on most of its products into the U…