Latest Chinese Data Lack Impetus as Political Uncertainty Looms

Latest Chinese Data Lack Impetus as Political Uncertainty Looms
A worker welding metal at a factory in Hangzhou in China's eastern Zhejiang Province, on July 15, 2023. STR/AFP via Getty Images
Indrajit Basu
Updated:
0:00

China’s latest activity numbers delivered a grim outlook for the economy, with weak domestic demand hindering hopes of recovering from property market troubles and analysts predicting a sharp growth slowdown, exacerbated by the escalating trade wars.

Industrial output in May fell short of estimates, and the property sector slump continued despite policy support, putting pressure on Beijing to boost growth.