China’s Retail Sales Growth Slows More Than Expected in July to 8.5%

Chinese retail sales rose 8.5% in July, less than expected at 11.5%, according to analysts polled by Reuters. Chinese retail sales rose 12.5% in June.

Auto-related sales, the largest component of retail sales by value, were the only category to decline in July, declining 1.8% year-on-year.

Industrial production grew by 6.4%, also less than expectations for a 7.8% year-on-year increase in July, according to a Reuters poll.