News Snapshot:
China’s factory output and retail sales both rose more slowly than expected in July from a year ago, data showed on Monday, amid signs of increasing pressure on China’s economy as export growth cooled and new COVID-19 outbreaks disrupted business. Industrial production in the world’s second largest economy increased 6.4% year-on-year in July, against expectations for 7.8% growth and after rising 8.3% in June. China’s economy has rebounded to its pre-pandemic growth levels, but the expansion appears to be losing steam as businesses have grappled with higher costs and supply bottlenecks while new COVID-19 infections in July prompted some local...
