China’s factory output increased 6.4 percent in July from the previous year, as fixed-asset investment rose 8.3 percent in the first seven months.
Fixed-asset investment had been expected to expand 8.6 percent over the first seven months, the same pace as in January-June.
Retail sales grew 10.4 percent in July from the previous year, cooling from June’s 11 percent pace and also failing to meet analysts’ forecasts for a 10.8 percent growth.
Growth of private investment softened to 6.9 percent in January-July from 7.2 percent during the first half of 2017, which implies that small and medium-sized private companies continue to face obstacles in accessing financing. Private investment accounts for nearly 60 percent of total investments in the country.
China is aiming for growth of almost nine percent in fixed asset investment for this year, and sees retail sales to rise around ten percent. It is targeting annual economic expansion of nearly 6.5 percent in 2017, which is lower from the 6.7 percent pace touched in the previous year.
The material has been provided by InstaForex Company – www.instaforex.com