In July, China’s manufacturing output declined and retail sales also slowed. This forces the government to take measures to boost domestic demand and support the economy.
According to official data, industrial production grew by 5.7% in July. This is lower than June’s figure of 6.8%. Retail sales rose by 3.7%, which is one of the lowest growth rates in recent years.
Experts attribute this to weak domestic demand, problems in the real estate market, and global economic risks. Investments also came in lower than expected.
The price of new homes in July fell by 2.8% compared to last year. This reduces consumer willingness to make purchases and negatively affects economic growth.
Analysts expect China’s economic growth in 2025 to be around 4.6%. This is below the government’s 5% target, and significant growth is not expected before the end of the year.
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