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China Industrial Output Rises; Retail Sales Fall Unexpectedly

China's industrial production increased in July, while retail sales logged an unexpected fall, data from the National Bureau of Statistics revealed Friday.

Industrial production grew 4.8 percent on a yearly basis in July, the same rate of growth as seen in June. However, the rate was weaker than the expected rise of 5.1 percent.

At the same time, retail sales dropped 1.1 percent from last year, confounding expectations for an increase of 0.1 percent. Sales had declined 1.8 percent in June.

During January to July period, fixed asset investment decreased 1.6 percent versus a 3.1 percent decrease in January to June. The rate came in line with expectations.

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