China’s growth is running into July as retail sales, industrial forecasts

In July, China’s economy lost its strength when growth penetrates because the weak domestic demand remained and Beijing increased efforts to stop excess power.

Last month’s retail sales increased by 3.7% compared to a year earlier, data from the National Statistics Bureau showed on Friday, there were no estimates of analysts by 4.6% of the Reuters survey and slowing down 4.8%.

According to LSEG, and weaker than analysts ‘expectations by 5.9%, 5.7% compared to the year, its weakest level since November last year, and weaker than analysts’ expectations.

Investments with a fixed asset reported on the current basis increased by 1.6% this year, as of July, emphasizing the forecasts of economists by 2.7% and slowing 2.8% in the first six months.

Separately, in July, based on urban unemployment in China, in July amounted to 5.2%, increasing 5%in May and June. Unemployment rate for those between the ages of 16 and 24, with the exception of college students remained above 14% during the year.

The latter was expected because the main participants of the results in the first half of the year, such as government incentive and preventive trade, faded, said Tianchen SU, senior economist.

China’s economy In the first expanded 5.3% Half a year, on the way to reaching the Beijing growth target at 5%. However, economists warned that the risk of growth throughout the year, which emphasizes its goal remains, calling for the support of fresh policy in the second half of the year.

Beijing and Washington on Monday announced that they would expand the tariff pause for 90 days to mid -November, overcoming steep tariffs and allowing more time for both parties to agree on a solid deal.

Despite the temporary truce, “the main disputes-technical access and critical minerals against industrial policy and geopolitical arrangements are unresolved,” said Gin Tian, co-founder and director of the Chinese Analysis Center at the Asian Society Institute.

Tian, who advised both governments during current negotiations, said “great political compromises” was reserved for a potential summit between US President Donald Trump and his Chinese XI Jinping counterpart in the coming months.