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China's industrial output growth slows in April, retail sales miss forecasts
Industrial production grew 9.8 percent in April from a year ago, slower than the 14.1 percent surge in March, National Bureau of Statistics data showed on Monday, but matching a consensus forecast by analysts from a Reuters poll.
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At high stakes: A cargo ship berths at a port in Lianyungang in China’s eastern Jiangsu province, on May 8. China’s exports fell more than expected in April while imports rose, official data showed on Wednesday, ahead of high-stakes talks aimed at resolving a trade war with the United States.
(AFP/-)
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hina's factory output growth slowed in April from the jump seen in the previous month while retail sales missed analyst expectations, indicating more pressure on the recovery in consumption.
Industrial production grew 9.8 percent in April from a year ago, slower than the 14.1 percent surge in March, National Bureau of Statistics data showed on Monday, but matching a consensus forecast by analysts from a Reuters poll.
China's economy showed steady improvement in April but new problems are emerging, the NBS said in a statement alongside the data.
Retail sales rose 17.7 percent year-on-year in April, much weaker than a 24.9 percent uptick expected by analysts and down from the jump of 34.2 percent seen in March.
Fixed asset investment increased 19.9 percent in the first four months from the same period a year earlier, versus a forecast 19.0 percent rise, slowing from January-March's 25.6 percent increase.
Private-sector fixed-asset investment, which makes up around 60 percent of total investment, rose 21.0 percent in January-April, compared with a 26.0 percent jump for the first three months.
A top decision-making body of the ruling Communist Party said last month the country will encourage manufacturing and private investment to recover as quickly as possible.
The Politburo meeting chaired by President Xi Jinping also warned China's economic recovery remained uneven and that its foundation was not yet solid.
Exports unexpectedly accelerated in April and import growth hit a decade high, thanks to strong demand for Chinese goods amid a brisk US economic recovery and stalled factory production in other countries.
However, April also saw factory activity slow as supply bottlenecks and rising costs weighed on production.
China's gross domestic product (GDP) expanded by a record 18.3 percent in the first quarter and many economists expect growth will exceed 8 percent this year.
Some warn that continuing global supply chain disruptions and higher comparison bases will sap momentum in coming quarters
