China reported data for July that came in well below expectations as the real estate slump and Covid controls dragged down growth.

Retail sales grew by 2.7% in July from a year ago, the National Bureau of Statistics said Monday. That’s well below the 5% growth forecast by a Reuters poll, and down from growth of 3.1% in  June. Within retail sales, catering, furniture and construction-related categories saw declines.

Sales of autos, one of the largest categories by value, rose by 9.7%. The gold, silver and jewelry category saw sales rise the most, up by 22.1%. Online sales of physical goods rose by 10% year-on-year, faster than in June, according to CNBC calculations of official data.

If you want to purchase goods from China, Yongxin Supply Chain can provide you with professional purchasing services and logistics management services, and we are good at market research and supplier search, and can provide customers with the best customer service, please contact us.