On Thursday, official statistics revealed that China’s industrial output climbed 3.5% from a year earlier in May, below expectations. Weakening demand at home and abroad pressures officials to stabilize a fragile economic recovery.
May’s growth was the smallest since February.
Reuters analysts predicted a 3.6% output increase from 5.6% in April.
According to the National Bureau of Statistics, retail sales rose 12.7% in May from a year earlier, down from 18.4% in April.
Analysts predicted 13.6% growth.
In the first five months of 2023, fixed asset investment rose 4.0%, compared to 4.4% expected. January-April growth was 4.7%.
Analysts warn that China’s data readings last month may be affected by comparisons with a relatively bad performance last year when several cities were under strict COVID lockdowns. This week, the central bank reduced interest rates after a first-quarter economic comeback lost momentum.
