China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown

China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown

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China’s economic slowdown deepened in July due to a worsening property slump and continued coronavirus lockdowns, with an unexpected cut in interest rates unlikely to turn things around while those twin drags remain.

Retail sales, industrial output and investment all slowed and missed economists estimates in July. The surveyed jobless rate for those aged…


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