Growth in China’s factory production decelerated for the third consecutive month in May, most likely due to difficulties arising from Covid-19 outbreaks in the southern province of Guangdong, reported Reuters.
In addition, retail sales and investment growth landed under market expectations, however, underlying activity remains robust.
The Chinese economy has largely shaken off the gloom from the coronavirus slump, but officials warn its recovery remains uneven amid challenges including soft domestic demand, rising raw material prices and global supply chain disruptions.