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China May retail sales sharply beat estimates; industrial output misses expectations
- China's retail sales rose 6.4% year-on-year in May while industrial output growth slowed to 5.8% amid nationwide economic data releases.
- The rise in retail sales followed an earlier-than-usual extended 618 shopping festival and government stimulus measures introduced last month.
- Despite consumption gains, fixed-asset investment grew 3.7% year-to-date with property investment contracting 10.7% and exports to the U.S. plunging over 34%.
- The urban unemployment rate eased to 5.0%, the lowest since November, while producer prices fell 3.3% and consumer prices declined 0.1% in May.
- Analysts warn that consumption recovery may be short-lived without further stimulus, and challenges like property market weakness and trade tensions continue to weigh on growth targets.
34 Articles
34 Articles
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