FOREX TradingCharts.com

Financial News: China Industrial Output, Retail Sales Data Miss Expectatio

China Industrial Output, Retail Sales Data Miss Expectations

05/16/2023 - 04:40:00 (RTTNews)

(RTTNews) - China's industrial production and retail sales expanded at faster rates in April but both missed expectations signaling that monetary policy easing might be needed to regain the strength experienced after the scrapping of zero-Covid policy.

Industrial production posted an annual growth of 5.6 percent in April, faster than the 3.9 percent increase in March, the National Bureau of Statistics said Tuesday. However, the pace of expansion was weaker than economists' forecast of 10.9 percent.

At the same time, retail sales growth accelerated sharply to 18.4 percent in April from 10.6 percent in March. Still, the rate missed expectations for a 21.0 percent increase.

During January to April, fixed asset investment registered an annual increase of 4.7 percent. That was bigger than the 5.1 percent rise in January to March period, but slower than the 5.5 percent gain economists had expected.

The urban jobless rate dropped marginally to 5.2 percent in April, while economists had forecast the rate to remain unchanged at 5.3 percent.

Recent official data also suggested a slowdown in economic activity. Factory gate deflation had deepened in April to 3.6 percent from 2.5 percent in March. At the same time, <a href=https://www.rttnews.com/3363324/china-inflation-weakest-since-2021-factory-gate-deflation-deepens.aspx target=_blank >consumer prices</a> rose only 0.1 percent, the slowest since February 2021.

Suggesting weak global demand, exports grew at a slower pace of 8.5 percent in April after surging 14.8 percent in March. Moreover, imports declined 7.9 percent.

Beijing aims to achieve a <a href=https://www.rttnews.com/3348358/china-sets-modest-growth-target-amid-challenging-external-environment.aspx target=_blank >growth target </a>of around 5.0 percent in 2023. The International Monetary Fund had projected China's economy to grow 5.2 percent this year and 4.5 percent in 2024.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2023 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Construction Work Done Increases 1.8% In Q1 (01 hr(s), 18 min(s), 44 sec(s) ago)
(RTTNews) - The total value of construction work done in Australia was up a seasonally adjusted 1. ...Full Story»

Australia Private Sector Credit Climbs 0.6% In April (01 hr(s), 24 min(s), 44 sec(s) ago)
(RTTNews) - Private sector credit in Australia was up 0.6 percent on month in April, the Reserve B ...Full Story»

China Manufacturing PMI Slides In May - NBS (01 hr(s), 33 min(s), 44 sec(s) ago)
(RTTNews) - The manufacturing sector in China continued to contract in May, and at a faster rate, ...Full Story»

Japan Retail Sales Climb 5.0% On Year In April (02 hr(s), 48 min(s), 44 sec(s) ago)
(RTTNews) - The total value of retail sales in Japan was up 5.0 percent on year in April, the Mini ...Full Story»

Japan Industrial Production Falls 0.4% In April (02 hr(s), 54 min(s), 44 sec(s) ago)
(RTTNews) - Industrial production in Japan was down a seasonally adjusted 0.4 percent on month in ...Full Story»

South Korea Industrial Production Slumps In April (03 hr(s), 26 min(s), 44 sec(s) ago)
(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 1.2 percent on mon ...Full Story»

Japan Industrial Production Data Due On Wednesday (05 hr(s), 10 min(s), 44 sec(s) ago)
(RTTNews) - Japan will on Wednesday release April figures for industrial production, headlining a ...Full Story»

Spain Inflation Eases Unexpectedly To Lowest In 22 Months (12 hr(s), 41 min(s), 44 sec(s) ago)
(RTTNews) - Spain's consumer price inflation eased unexpectedly in May to the lowest level in ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Construction Work Done Increases 1.8% In Q1

05/30/2023 - 21:52 PM (RTTNews)
(RTTNews) - The total value of construction work done in Australia was up a seasonally adjusted 1. ...Full Story>>

Australia Private Sector Credit Climbs 0.6% In April

05/30/2023 - 21:46 PM (RTTNews)
(RTTNews) - Private sector credit in Australia was up 0.6 percent on month in April, the Reserve B ...Full Story>>

China Manufacturing PMI Slides In May - NBS

05/30/2023 - 21:37 PM (RTTNews)
(RTTNews) - The manufacturing sector in China continued to contract in May, and at a faster rate, ...Full Story>>

Japan Retail Sales Climb 5.0% On Year In April

05/30/2023 - 20:22 PM (RTTNews)
(RTTNews) - The total value of retail sales in Japan was up 5.0 percent on year in April, the Mini ...Full Story>>

Japan Industrial Production Falls 0.4% In April

05/30/2023 - 20:16 PM (RTTNews)
(RTTNews) - Industrial production in Japan was down a seasonally adjusted 0.4 percent on month in ...Full Story>>

Do not sell my personal information

Copyright © 2023. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.