China’s fixed-asset investments slowed in April, Bloomberg reported, citing China’s National Bureau of Statistics. Industrial output also fell below analyst estimates for the first quarter of the year. Fixed-asset investment grew by 20.6% in January through April, down from 20.9% in the first quarter. Industrial production hit 9.3%, just below the expected 9.4%. The response from China’s new leadership will indicate the level of its tolerance for slowing growth. Gradually rising inflation could rule out heavy-handed stimulus spending as a way to boost investment and production.