China growth loses momentum in July as trade war with US unfolds

Beijing

CHINA'S economic growth slowed in July amid an ongoing trade war with the US and a tightening campaign to clean up banks' and local government's balance sheets after decades of inefficient lending.

Investment growth hit a record low of 5.5 per cent in the first seven months. Retail sales were up 8.8 per cent - down slightly from 9 per cent in June - as consumers held back on spending last month due to the economic uncertainty. Industrial output grew 6 per cent.