China's economy lost more momentum in July: consumer spending barely grew, investment fell at a faster pace and unemployment rising, increasing pressure on Beijing to provide more support for the world's second-largest economy.
Retail sales rose just 0.6% in July from a year earlier, according to data released Monday by China's National Bureau of Statistics. The increase fell well short of the 1.5% growth expected by economists and marked another slowdown from the 1% gain recorded in June, CNBC noted.
