Economic Buzz: China reports disappointing economic data

China's industrial production and retail sales registered weaker-than-expected growth in July, strengthening calls for further policy support to rebalance the economy towards consumption.

Industrial production grew 5.7 percent in July from a year ago, following June's 6.8 percent increase, the National Bureau of Statistics reported Friday. Output was forecast to climb 5.9 percent.

Likewise, retail sales growth eased more-than-expected to 3.7 percent from 4.8 percent in June.

During January to July period, fixed asset investment increased 1.6 percent from the last year, weaker than the 2.8 percent rise in the first six months. This was also slower than the forecast of 2.7 percent. At the same time, property investment slumped 12 percent.

In July, the urban unemployment rate rose to 5.2 percent from 5.0 percent in June.

The second largest economy expanded 5.2 percent in the second quarter, underpinned by industrial production and robust exports, thanks to the frontloading of orders by US manufacturers.

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