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CNN
CNN
15 Aug 2023
Laura He, CNN


NextImg:China's economic activity slows further in July as recovery stalls
China tips into deflation
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China tips into deflation 03:29
exp china deflation stewart live FST 080909ASEG1 cnni business_00002001

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    China tips into deflation

Hong Kong (CNN)China has reported a slew of disappointing economic data showing another month of tepid growth in the world's second largest economy.

Consumer spending, factory production and investment in fixed assets all slowed further in July from a year ago, the National Bureau of Statistics (NBS) said on Tuesday.

The NBS said it would no longer release data on youth unemployment, after that figure hit consecutive record highs in previous months.

Retail sales expanded 2.5% last month from a year ago, slowing from the 3.1% increase recorded in June. It was the weakest growth in consumption since December, when China scrapped its pandemic restrictions.

Industrial production also came in below expectations. It was up 3.7% in July from a year earlier, compared to growth of 4.4% in June.

    Fixed-asset investment rose 3.4% in July, compared to the 3.8% growth recorded in June.
    This a developing story and will be updated.