China's economy slows further in July as retail sales barely grow, investment slump steepens

BEIJING, CHINA - 2026/07/18: Shoppers stroll along a landscaped path near the POLÈNE luxury goods store in Sanlitun, carrying bags and enjoying the bustling scene. Sheldon Cooper | Sopa Images | Lightrocket | Getty ImagesChina's economy lost momentum across the board in July, as consumer spending stalled and urban investment contracted at a faster pace while unemployment ticked higher, adding to pressure on Beijing to step up support in the second half. Retail sales eked out a 0.6% growth from a year earlier, according to the National Bureau of Statistics on Monday, missing the estimated 1.5% jump in a Reuters poll, and slowing from 1% in June. China's urban fixed-asset investment, including real estate and infrastructure, contracted 6.7% this year as of end-July from a year earlier, worse than the estimated 6% decline in the poll. The decline also steepened from the 5.7% drop in the first half of this year. Investment in real estate declined 19.2% in the first seven months this year, while infrastructure and manufacturing investment contracted 3.6% and 1.7%, respectively.Industrial output rose 4.5% in July, undershooting the estimated 4.8% growth and slowing from 5.3% rise in June...