China’s official data predicts moderate growth in industrial output, retail sales, and fixed-asset investment in July.

However, real estate investment may be lowered due to potential default and falling housing sales.

Heavy rain and floods slowed construction and infrastructure projects, lowering economic activity.

Beijing has announced incremental growth measures but has avoided monetary and fiscal stimulation, despite a weakening yuan and huge debt.

The government’s conservative growth forecast of 5% is on pace.