China economy under pressure as trade war escalates

Beijing

CHINA'S economic activity disappointed in April just as the United States announced a new round of tariffs on Chinese exports last week, pointing to a challenging second quarter for the world's second-largest economy.

Chinese economic activity lost steam last month after a solid first quarter, statistics showed on Wednesday, with a weaker-than-expected manufacturing sector, adding pressure on the government to ramp up support for the slowing economy.

All economic indicators underperformed. Industrial output growth plunged, rising 5.4 per cent last month, down from 8.5 per cent. Fixed-asset investment growth moderated to 5.7 per cent, while retail sales growth dropped to 7.2 per cent, its slowest rate in 13 years, a sign…