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 .
"Given the complicated and grave external environment and the mounting downward pressure on the economy at home, the foundation for sustainable and healthy growth of the economy still needs to be consolidated," said Liu Aihua, a spokeswoman for the National Statistics Bureau, which released the data.
Retail sales, which have long been a bright spot for the economy, slowed to a 7.6 per cent rise last month, sharply down from 9.8 per cent in June.The news highlights the battle China's leaders have in trying to navigate the country's economy from exports and government investment to one driven by domestic consumption.
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