China is still struggling with a hangover from the problems in its property sector. Its economy did well last year, at least that’s what the official numbers say, but today there are new signs that things are slowing down.
The latest data point to a rocky start to the second half. On Tuesday, central bank data showed July new bank loans plunged to a 15-year low, while other key gauges showed export growth slowed and factory activity slumped as manufacturers grapple with tepid domestic demand…
“The market consensus will move to the left side of the ‘around 5%’ growth target, since the economy slowed in July and a forceful plan to support the economy seems to be missing,” said Xu Tianchen, senior economist at the Economist Intelligence Unit, which has kept its growth forecast at 4.7% since March.
The worst metrics are in the property sector and unemployment also ticked…
