China's factory output growth slumped to an eight-month low in July, while retail sales slowed sharply, raising pressure on policymakers to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

China's latest economic data indicates a slowdown, with key indicators missing forecasts. Industrial production rose by 5.7% in July, a decrease from the 6.8% gain in June and below the expected 5.9%.

After six months of steady improvement, China’s economy showed signs of strain in July, with several headline indicators losing momentum amid a weakening of domestic consumption, headwinds from the US trade war and a prolonged property downturn.