China’s economic numbers come in better than expected, but ‘challenges' remain

[superadmin]

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.”
  

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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