BEIJING (Reuters) – China’s May industrial output grew 5.6% from a year earlier, slowing from the 6.7% pace in April, adding pressure for more policy support amid an uneven economic recovery.
The official data released on Monday by the National Bureau of Statistics (NBS) was below expectations for a 6.0% increase in a Reuters poll of analysts.
Retail sales, a gauge of consumption, rose 3.7% in May, accelerating from a 2.3% increase in April due to a holiday boost. Analysts had expected retail sales to grow 3.0%.
Fixed asset investment expanded 4.0% in the first five months of 2024 from the same period a year earlier, versus expectations for a 4.2% rise. It grew 4.2% in the January to April period.
(Reporting by Albee Zhang, Ellen Zhang and Kevin Yao; Editing by Kim Coghill)
