Chinese retail sales grew at its slowest pace in nearly 16 years in April while industrial output and fixed asset investment came in short of estimates, said the Financial Times.
Retail sales grew 7.2% year-on-year in April, according to the National Bureau of Statistics (NBS), recording the slowest pace of growth since 2003 as sales of consumer goods and cosmetics slowed. That was short of a Reuters poll of economists forecasting 8.6% growth, just shy of the 8.7% increase in the previous month.
Growth in industrial production slowed to 5.4%, below the 6.5% increase forecast and level with November’s figure, which was in turn the weakest rate since the financial crisis.
You must log in to post a comment.