BEIJING: China's economy showed further signs of strain in July with output at its factories falling to its lowest level in 17 years, while investment and retail sales slowed, official data showed Wednesday .
The data also showed China's billion-strong army of consumers were showing signs of becoming more frugal. Crude steel output fell for a second straight month, while production of motor vehicles continued to fall by double digits. Hi-tech manufacturing output rose by a slower 6.6 per cent, and the country's power output edged up just 0.6 per cent.
Fixed-asset investment rose 5.7 per cent in January-July from the same period last year, lagging expectations of a 5.8 per cent gain and dipping from the previous reading. Recent months have been marked by a sudden escalation in the year-long S.-China trade war that has raised risks for both economies and sparked fears of a global recession.
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