BANGKOK — China’s economy showed signs of slowing in July as factory output and retail sales slowed and housing prices dropped further, according to data released Friday.
Uncertainty over tariffs on exports to the United States is still looming over the world’s second-largest economy after President Donald Trump extended a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May.
As officials worked toward a broader trade agreement, China reported earlier that its exports surged 7.2% in July year-on-year, while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of the truce in Trump’s trade war with Beijing.
But that also reflected a lower base for comparison, and manufacturers have slowed investments, hiring and production as they watch to see what comes. Chinese manufacturers also have ramped up shipments to Southeast Asia, Africa and other regions to help offset lost business in the U.S.
“Exports remained a bright spot although the boost from front-loading appears to be tapering off and has started to show up in weak industrial production, as we anticipated,” Oxford Economics’ Sheana Yue wrote in a report.
China also has been enduring flooding from torrential seasonal rains that have disrupted business activity in many parts of the country
The statistics bureau’s report said the economy had shown “notable resilience and vitality against the