06-15-2022, 03:04 PM
China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
- Industrial production rose mildly by 0.7% in May from a year ago, versus an expected 0.7% drop, according to analysts polled by Reuters. In April, industrial production unexpectedly fell, down by 2.9% year-on-year.
- Fixed asset investment for the January to May period rose by 6.2%, topping expectations of 6% growth.
- Still, China’s National Bureau of Statistics warned: “We must be aware that the international environment is to be even more complicated and grim, and the domestic economy is still facing difficulties and challenges for recovery.”
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EIJING — China released economic data for May that topped muted expectations for a month hampered by Covid controls.
Industrial production rose mildly by 0.7% in May from a year ago, versus an expected 0.7% drop, according to analysts polled by Reuters. In April, industrial production unexpectedly fell, down by 2.9% year-on-year.
Retail sales fell less than expected, down by 6.7% in May from a year ago. Retail sales were estimated to have declined by 7.1% in May from a year ago, according to the Reuters poll. In April, retail sales fell by 11.1% from a year ago.
Fixed asset investment for the January to May period rose by 6.2%, topping expectations of 6% growth.
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