China's retail sales grew at a much weaker pace in August as the outbreak of Delta variant weighed on consumption, and industrial production growth softened amid supply chain bottlenecks and higher raw material cost.
Retail sales grew only 2.5 percent on a yearly basis in August, data published by the National Bureau of Statistics showed on Wednesday. This was much weaker than July's 8.5 percent growth and the expected rate of 7 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.