China's May industrial output growth cools to 17-year low as trade war bites

China's industrial output growth unexpectedly slowed to a more than 17-year...

BEIJING - China’s industrial output growth unexpectedly slowed to a more than 17-year low in May, while investment also cooled, in the latest sign of weakening demand in the world’s second-largest economy as the United States ramps up trade pressure.

Fixed-asset investment also grew less than expected, reinforcing expectations that Beijing will need to roll out more growth-boosting measures soon. Friday’s data showed domestic demand remains sluggish, as suggested by weaker-than-expected import and bank lending data over the last week and gloomy May factory surveys.Fixed-asset investment rose 5.6% in January-May from the same period a year earlier, decelerating from 6.1% tipped in the Reuters poll and 6.1% in January-April.

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