Overview

• Retail sales growth slumped to 2% in June, the lowest since December 2022.
• Property investment fell by 10.1% year-on-year, with new home prices dropping at the fastest pace in nine years.
• Industrial output grew by 5.3% in June, slightly above expectations but down from May's 5.6%.
• The unemployment rate held steady at 5%, but youth unemployment remains a concern.
• High-level CCP meeting underway to discuss long-term reforms and potential stimulus measures.