China's Economic Struggles Persist with Property Slump and Mixed Consumption Data

New data reveals ongoing challenges in China's real estate sector and uneven consumer spending growth despite government efforts.

Real estate investment fell 10.2% year-over-year in the first seven months of 2024.
Retail sales increased by 2.7% in July, driven by online shopping events.
Industrial production rose 5.1% in July, below expectations and slower than June's growth.
Urban unemployment rose to 5.2% in July, up from 5% in June.
Government policies aim to boost consumer spending and achieve a 5% GDP growth target for 2024.