MNI DATA IMPACT: China Ind Output, Retail Sales Sharply Slow

     BEIJING (MNI) - China's July macroeconomic indicators all came in lower

than market expectations as they adjusted from the strong performance in June,

according to data released by the National Bureau of Statistics. Here are key

points MNI highlights from the data:

     -- Industrial output growth dropped to 4.8% y/y from June's 6.3% gain,

posting the lowest level this year, and missing the 5.7% projected by analysts

polled by MNI.

     -- Fixed-asset Investment recorded 5.7% growth y/y, edging down from 5.8%

in the Jan-June period. This underperformed the 5.8% median forecast in an MNI

survey.

     -- Property investment growth continued to slow to 10.6% y/y from 10.9% in

Jan-June. Infrastructure investment grew by 3.8% y/y, decelerating from the 4.1%

gain in the first six months.

     -- Retail sales grew by 7.6% y/y, falling sharply from June's 9.8% gain,

and also missing the 8.5% forecast polled by MNI. This is the lowest level in

three months since April's 16-year low of 7.2%.

     -- The surveyed unemployment rate edged up to 5.3% y/y in July, up from

June's 5.1%, lower than the target of 'around 5.5%'. The surveyed unemployment

rate in the 31 biggest cities rose to 5.2% y/y from June's 5.0%.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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