China's economic growth challenges mount as consumption slips
China's latest economic data showed consumer spending performing weaker than expected, deepening concerns about the pace of the recovery. The figures point to a soft start to the second half of the year.
Retail sales and fixed-asset investment both came in below analyst expectations. Economists say household confidence remains weak and ongoing property-sector troubles continue to weigh on consumption.
The Chinese government said it is working on new stimulus measures to support the economy, though analysts are divided on whether current steps will be sufficient.
The weak data could also weigh on global commodity markets and exporter economies. Investors will be closely watching Beijing's next moves in the coming months.
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