China's April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-COVID recovery.
signalled weak domestic demand, raising pressures on policymakers to shore up the economic recovery as global growth falters.on Monday as expected, but markets are betting on more monetary easing in the coming months as the commodities data also highlighted pockets of weakness across the economy., aluminium output and crude steel output all fell in April from a month earlier.
The data also showed fixed asset investment expanded 4.7% in the first four months of 2023 year-on-year, slowing from the 5.1% pace in the January-March period. Investment in the property sector, a key pillar of the economy, tumbled 16.2% year-on-year last month after a 7.2% drop in March, according to Reuters' calculations based on official data, as investors remain cautious due to still-fragile demand.Hiring was still low among companies wary about their finances. The youth jobless rate hit a record high at 20.4%, up from 19.6% in March, which Zhiwei Zhang, chief economist at Pinpoint Asset Management, described as a "worrying sign.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China: Inflation loses traction in April – UOBEconomist at UOB Group Ho Woei Chen reviews the latest inflation figures in China. Key Takeaways “Headline inflation was near flat at 0.1% y/y, -0.1%
Read more »
China April industrial output rises 5.6%, retail sales jump 18.4%; below expectationsChina's industrial output grew 5.6% in April from a year earlier, official data showed on Tuesday, missing expectations by a large margin but accelerating from a 3.9% gain seen in March.
Read more »
China’s April Retail Sales rise 18.4%, Industrial Output increases 5.6%China’s April Retail Sales YoY, jumped 18.4% vs. 21.0% expected and 10.6% previous while the country’s Industrial Production came in at 5.6% YoY vs. 1
Read more »
China’s NBS: National economy sustained recovery momentum in AprilFollowing the release of the key economic data from China for April, the country’s National Bureau of Statistics (NBS) released a statement, via Reute
Read more »
China's factory output, consumption highlight frail post-COVID economic recoveryTuesday's batch of data does little to allay concerns about China's outlook.
Read more »
China's retail sales jump 18% as data continues to portray uneven recoveryChina's activity data for April continued to show an uneven path for recovery as the economy continues to emerge from the impact of its stringent Covid restrictions.
Read more »