China retail sales fall fuels concern for global recovery from Covid-19
by Richard Partington from on (#56X7E)
Retail sales dropped 1.1% in July while industrial production remains subdued
Fears over the strength of China's economic recovery from the coronavirus pandemic have been raised after retail sales slumped in July and industrial production remained subdued.
Fuelling concerns for the world economy, retail sales in China dropped in July by 1.1% compared with the same month a year ago, missing predictions for a small increase in consumer spending.
Related: Markets hit by UK quarantine move and China retail sales fall - business live
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