China July industrial output growth falls to 17-year low as trade war escalates, retail sales disappoint

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China July industrial output growth falls to 17-year low as trade war escalates, retail sales disappointChina reported a raft of unexpectedly weak July data on Wednesday, including a surprise drop in industrial output growth to a more than 17-year low, underlining widening economic cracks as the trade war with the United States intensifies. Industrial output grew 4.8% in July from a year earlier, data from the National Bureau of Statistics showed on Wednesday, lower than the most bearish forecast in a Reuters poll. Analysts had forecast industrial output growth would slow to 5.8%, from June's 6.3% growth, amid weakened demand at home and abroad.


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