China's retail sales and factory activity grew at a slower pace in July, official data showed on Monday, missing forecasts and highlighting persistent pressure on the world's second-largest economy.
The 0.6 percent on-year growth in retail sales reported by the National Bureau of Statistics was well short of the 1.5 percent forecast in a Bloomberg survey and was down from one percent increase seen in June.
The country's leaders have battled sluggish spending in the domestic economy since the end of the Covid-19 pandemic as it threatens overall growth even as exports and certain high-tech sectors boom.
The NBS data also showed industrial production growth slowed to 4.5 percent on-year in July, down from 5.3 percent the month before and short of the five percent forecast in the Bloomberg survey.
The readings come after authorities revealed last month that the Chinese economy grew at its weakest pace in more than three years during the second quarter.
Beijing is targeting national growth of 4.5-5.0 percent this year, the lowest official goal in decades.
In another sign of the challenges facing the government, fixed-asset investment in January-July fell 6.7 percent on year, the NBS data showed.
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