Retail sales, a broad measure of private and government spending, climbed 10.7% year-on-year, compared to 10.9% in March. Meanwhile, annual fixed-asset investment, a proxy for long-term spending, increased 8.9% in the January-April period. Urban investment had accelerated 8.9% in the year to March. Analysts had forecast industrial production to rise 7%, retail sales to increase 10.8% and fixed-asset investment to increase grow 9.1%.
Chinese Industrial Production, Retail Sales Growth Slow in April
Broad measures of Chinese economic output slowed in April, although the underlying trend continued to show stability in the world’s second-largest economy. Industrial production, a broad measure of factory output, rose 6.5% in April from a year earlier, the National Bureau of Statistics reported in Beijing. That was down from a multi-year high of 7.6% in March.
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