China’s June industrial output growth slows, retail sales miss expectations by large margin

CHINA’S industrial output rose 5.3 per cent in June from a year earlier, slowing from 5.6 per cent in May, as sluggish domestic demand continued to weigh on the country’s patchy economic recovery.

The official data released on Monday (Jul 15) by the National Bureau of Statistics (NBS) came above expectations for a 5.0 per cent increase in a Reuters poll of analysts.

Retail sales, a gauge of consumption, rose 2.0 per cent in June, slowing significantly from a 3.7 per cent increase in May. Analysts had expected retail sales to grow 3.3 per cent.

Fixed asset investment expanded 3.9 per cent in the first six months of 2024 from the same period a year earlier, in line with expectations. It rose 4 per cent during January-May. REUTERS