China’s economic recovery remains unstable and uneven due to COVID-19 outbreaks and natural disasters in some parts of the country, the National Bureau of Statistics said in a statement today. “The domestic economic recovery still faces many challenges, and constraints on production increased,” it added. China today released a raft of data that showed the country’s economic recovery momentum weakening in July. Both factory output and retail sales growth slowed sharply and missed market consensus, while the surveyed urban unemployment rate ticked up to a three-month high of 5.1%. At the same time, fixed asset investment grew 10.3% in January-July, slowing from a 12.6% gain in the prior period. Meanwhile, property investment rose 12.7% in the first seven months of the year, compared with a 15% rise in the previous period.
