China rebound fragile as domestic demand lags

Beijing

CHINA'S economic rebound remained fragile in July as retail sales continued to fall with massive flooding and continued tensions with the US looming on the recovery. Retail sales dropped 1.1 per cent in July, missing predictions for a 0.1 per cent rise. In June, retail sales fell by 1.8 per cent.

After registering its worst growth on record in the first quarter, China's economy had shown signs of a robust recovery in the second quarter as Covid-19 came under control.