💨 Abstract

China's economy showed signs of slowing in July. Factory output and retail sales decreased, while housing prices continued to drop. Uncertainty over U.S. tariffs persists despite extensions in tariff hikes. Exports surged 7.2% but manufacturers have cut investments and hiring. Industrial output growth fell to 5.7% and property investments plunged 12%. The COVID-19 pandemic exacerbated the housing market downturn, causing job losses and debt defaults.

Courtesy: WTOP Staff