Economic recovery momentum tails off

Recovery momentum in June failed to carry over into July, as shown by China's softening data in industrial output, investment and retail sales, which underscored the fragility of the economy's exogenous momentum.

Except for industrial output growth, which met market expectations, all other key data fell short, despite the government's introduction of stimulus measures in May.

Institutions are slightly divergent in their analysis of the slowdown, with some suggesting not to "read too much" into a monthly fluctuation, while others argue the upsurge in June may mark an end to the rebound.