China's industrial output growth beats estimates, retail sales disappoints in April

China's industrial output growth beats estimates, retail sales disappoints in April

Retail sales increase by 2.3% year-on-year in April, marking slowest growth pace since 2022, industrial production rises 6.7%

By Tuba Ongun

ANKARA (AA) — China announced on Friday a slowdown in retail sales growth, along with better-than-expected industrial output data for April.

Retail sales increased by 2.3% from a year ago in April, marking the slowest growth pace so far, data from the country's National Bureau of Statistics showed.

April's consumer spending eased from a 3.1% hike in March, missing a market forecast of a 3.8% rise.

Industrial output surged by 6.7% year-on-year in April, picking up from March's 4.5% gain and beating estimates of 5.5%.

The statistical authority also said the urban unemployment rate came in at 5% in April, down from 5.2% as of the end of March.

China's fixed-asset investment grew by 4.2% at an annualized pace in January-April, worse than estimates of 4.6%.

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