China’s industrial output decelerates, retail sales place below expectations
China saw a deceleration in its industrial output in April. Meanwhile, retail sales came lower than what was expected by analysts, underscoring more pressures that might cap consumption’s momentum towards recovery.
The country’s industrial production recorded a 9.8% year-on-year increase in April, data from the National Bureau of Statistics showed on Monday. The figure placed lower than the 14.1% expansion seen in March as it came parallel with a consensus forecast of analysts in a Reuters survey.
Retail sales, on the other hand, jumped 17.7% in April from a year ago. The increase was lower than the 24.9% surge expected by analysts, placing below a 34.2% jump seen in March. Apart from this, the country’s factory activity had weakened as supply constraints and surging prices heavily dragged production.