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Financial News: China Industrial Output Growth Accelerates

China Industrial Output Growth Accelerates

05/17/2024 - 01:30:00 (RTTNews)

(RTTNews) - China's industrial growth accelerated in April, while growth in retail sales softened unexpectedly, official data revealed on Friday.

Industrial production registered an annual increase of 6.7 percent after rising 4.5 percent in March, the National Bureau of Statistics reported. This was also better than the expected growth of 5.5 percent.

By contrast, retail sales growth decelerated to 2.3 percent from 3.1 percent a month ago and also remained weaker than the 3.8 percent expected rise.

During January to April, fixed asset investment grew 4.2 percent from the previous year, following an increase of 4.5 percent in January to March period. Economists had forecast a faster increase of 4.6 percent.

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