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Strong Chinese Economic Growth Falters in July
August 16, 2017
China’s economic growth that was widely hailed as robust and powerful during the entire year, showed signs of losing momentum in July as lending costs rose and property market lost its charm. Trade, retail sales, and industrial output all fell short of expectations last month even as the world’s second largest economy took the world by a surprise during the first half of the year.
According to Julian Evans-Pritchard, a China economist at Capital Economics, the decline in the economic growth is not to be mistaken for a hard landing. He said that this is a temporary setback and high investment can be expected in infrastructure and property in the coming months.
