BEIJING--China's economic activity in July continued to improve from the coronavirus shocks, according to latest economic data released Friday, but the growth momentum cooled slightly as Beijing stopped further revving-up measures.
Industrial production rose 4.8% in July from a year earlier, on par with the increase in June, the National Bureau of Statistics said. Economists polled by The Wall Street Journal expected a 5.0% growth in July.
Fixed-asset investment dropped 1.6% in the first seven months from a year ago, narrowing from a 3.1% decline in the first half of the year and better than the 1.8% drop estimated by economists.
Retail sales, a major gauge of China's consumption, fell 1.1% in July. That compared with a 1.8% drop in June and missed the economists' projection that it would stay flat.