Industrial output in China saw a 6.7% increase in April
China's industrial output surged by 6.7% year-on-year in April, marking an acceleration from the 4.5% growth recorded in March. This uptick reflects a gathering momentum in the manufacturing sector, according to official data released by the National Bureau of Statistics (NBS). The figure exceeded expectations, surpassing a 5.5% increase projected by analysts in a Reuters poll.
On the other hand, retail sales, a key indicator of consumption, experienced a more modest growth of 2.3% in April, down from a 3.1% increase in March. Analysts had anticipated a higher growth rate of 3.8% for retail sales.
Fixed asset investment expanded by 4.2% in the first four months of 2024 compared to the same period last year. This fell short of expectations for a 4.6% rise. Notably, fixed asset investment had grown by 4.5% in the first three months of the year.
Earlier economic data released this month depicted a mixed picture for April. While China's exports and imports rebounded after contracting in the previous month, consumer prices rose for the third consecutive month.
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