China’s retail sales growth trailed expectations, the pace of industrial output expansion slowed and a drop in investment worsened as its economy struggled to regain pace at the start of the second half of the year. July retail sales rose by 0.6 per cent, missing the 1.3 per cent expectation among economists polled by financial data provider Wind, and slowing from June’s 1 per cent rate. Industrial output rose by 4.5 per cent, trailing the 4.9 per cent forecast and June’s 5.3 per cent pace,...